Wealth Enhancement Advisory Services LLC Sells 5,005 Shares of Workday, Inc. (NASDAQ:WDAY)

Wealth Enhancement Advisory Services LLC cut its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,076 shares of the software maker's stock after selling 5,005 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Workday were worth $10,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WDAY. Vanguard Group Inc. raised its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after purchasing an additional 1,406,088 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Workday by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock worth $911,027,000 after buying an additional 52,104 shares during the period. Finally, FIL Ltd grew its position in shares of Workday by 6.5% in the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after buying an additional 181,899 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WDAY. UBS Group upped their target price on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Citigroup cut shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Stifel Nicolaus lowered 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. Jefferies Financial Group cut their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Guggenheim reiterated a "neutral" rating on shares of Workday in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Up 0.0%

NASDAQ:WDAY traded up $0.04 during trading hours on Monday, hitting $247.75. 2,034,329 shares of the company traded hands, compared to its average volume of 2,498,170. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $65.90 billion, a PE ratio of 41.09, a PEG ratio of 3.55 and a beta of 1.30. The firm's 50-day simple moving average is $241.60 and its 200-day simple moving average is $253.27.

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 analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm earned $1.74 earnings per share. The firm's revenue was up 12.6% on a year-over-year basis. Equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction 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 sale, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares of the company's stock, valued at approximately $18,099,750. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,338 shares of company stock worth $59,875,701 in the last 90 days. 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.