Penserra Capital Management LLC Has $242,000 Stock Position in Workday, Inc. (NASDAQ:WDAY)

Penserra Capital Management LLC decreased its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,039 shares of the software maker's stock after selling 1,537 shares during the period. Penserra Capital Management LLC's holdings in Workday were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WDAY. Brighton Jones LLC grew its stake in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Workday by 24.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after buying an additional 595 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Workday during the fourth quarter worth $44,741,000. Independent Advisor Alliance boosted its stake in Workday by 60.8% during the fourth quarter. Independent Advisor Alliance now owns 2,579 shares of the software maker's stock worth $665,000 after buying an additional 975 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in Workday by 42.6% during the fourth quarter. Moors & Cabot Inc. now owns 1,182 shares of the software maker's stock worth $305,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

NASDAQ WDAY opened at $223.37 on Friday. The business has a 50 day simple moving average of $248.29 and a 200 day simple moving average of $248.51. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $59.64 billion, a price-to-earnings ratio of 123.41, a PEG ratio of 3.46 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last posted its 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. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the business earned $1.74 EPS. Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares in the company, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the sale, the insider owned 102,997 shares in the company, valued at $24,581,264.02. The trade was a 41.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 328,554 shares of company stock worth $79,097,601. Company insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDAY shares. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Jefferies Financial Group decreased their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Oppenheimer decreased their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded shares of Workday from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average price target of $296.88.

About Workday

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.

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