Oak Thistle LLC Cuts Position in Workday, Inc. (NASDAQ:WDAY)

Oak Thistle LLC cut its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,192 shares of the software maker's stock after selling 7,708 shares during the period. Oak Thistle LLC's holdings in Workday were worth $745,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS grew its holdings in Workday by 0.7% during the first quarter. KLP Kapitalforvaltning AS now owns 100,884 shares of the software maker's stock worth $23,559,000 after buying an additional 700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Workday during the first quarter valued at about $128,000. Hartford Funds Management Co LLC lifted its position in shares of Workday by 21.3% during the first quarter. Hartford Funds Management Co LLC now owns 2,767 shares of the software maker's stock valued at $646,000 after purchasing an additional 486 shares in the last quarter. HighPoint Advisor Group LLC grew its position in Workday by 9.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,769 shares of the software maker's stock worth $1,161,000 after purchasing an additional 425 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in Workday by 5.9% in the 1st quarter. Crestwood Advisors Group LLC now owns 4,418 shares of the software maker's stock valued at $1,032,000 after buying an additional 248 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 1.9%

Shares of NASDAQ:WDAY traded up $4.54 during trading on Friday, reaching $241.74. 1,840,561 shares of the company traded hands, compared to its average volume of 2,143,465. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The business's fifty day moving average is $242.57 and its 200-day moving average is $246.73. The firm has a market capitalization of $64.54 billion, a price-to-earnings ratio of 133.56, a P/E/G ratio of 3.59 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company's revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of a number of research analyst reports. Morgan Stanley set a $255.00 target price on Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Guggenheim reissued a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Loop Capital decreased their target price on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, May 21st. Finally, JMP Securities restated a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $296.88.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,005 shares of company stock worth $79,203,523. Corporate insiders own 19.31% of the company's stock.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.