Sawgrass Asset Management LLC Has $9.77 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Sawgrass Asset Management LLC reduced its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,826 shares of the software maker's stock after selling 1,476 shares during the quarter. Workday makes up about 1.2% of Sawgrass Asset Management LLC's investment portfolio, making the stock its 28th biggest holding. Sawgrass Asset Management LLC's holdings in Workday were worth $9,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after buying an additional 2,792 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Workday in the fourth quarter worth about $8,984,000. Bank Pictet & Cie Europe AG boosted its stake in Workday by 24.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock valued at $793,000 after acquiring an additional 595 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Workday by 22.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,825 shares of the software maker's stock valued at $729,000 after acquiring an additional 520 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Workday by 10.4% during the fourth quarter. Private Advisor Group LLC now owns 7,742 shares of the software maker's stock valued at $1,998,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Loop Capital reduced their price objective on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Jefferies Financial Group reduced their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, May 21st. Finally, DA Davidson raised their price target on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Price Performance

Shares of NASDAQ WDAY traded down $1.61 during trading on Monday, hitting $236.58. The company had a trading volume of 1,750,606 shares, compared to its average volume of 2,457,739. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The business's 50-day moving average is $247.10 and its 200 day moving average is $251.63. The company has a market cap of $63.17 billion, a P/E ratio of 130.71, a PEG ratio of 3.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last announced 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 company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,762 shares of company stock worth $41,995,382. Company insiders own 20.00% 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.