Park Avenue Securities LLC Sells 1,157 Shares of Workday, Inc. (NASDAQ:WDAY)

Park Avenue Securities LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,948 shares of the software maker's stock after selling 1,157 shares during the quarter. Park Avenue Securities LLC's holdings in Workday were worth $1,856,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bristlecone Advisors LLC increased its holdings in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after buying an additional 968 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Workday in the fourth quarter worth approximately $8,984,000. Brighton Jones LLC raised its holdings in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after purchasing an additional 2,792 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in Workday by 60.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker's stock valued at $363,000 after purchasing an additional 529 shares during the period. Finally, Sentry Investment Management LLC boosted its holdings in Workday by 70.2% in the fourth quarter. Sentry Investment Management LLC now owns 2,663 shares of the software maker's stock worth $687,000 after purchasing an additional 1,098 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WDAY shares. Stifel Nicolaus decreased their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Westpark Capital upped their price objective on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Canaccord Genuity Group raised their target price on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. DA Davidson upped their price target on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Loop Capital lowered their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Trading Up 0.2%

Shares of NASDAQ:WDAY traded up $0.48 during trading on Thursday, hitting $251.84. The company had a trading volume of 422,482 shares, compared to its average volume of 2,457,273. The stock has a market cap of $67.24 billion, a price-to-earnings ratio of 41.76, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a fifty day simple moving average of $244.11 and a two-hundred day simple moving average of $252.77. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 EPS. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director now owns 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,338 shares of company stock worth $59,928,801. 19.31% of the stock is currently owned by insiders.

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.