Assenagon Asset Management S.A. Trims Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Assenagon Asset Management S.A. lowered its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 164,307 shares of the software maker's stock after selling 188,125 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Workday worth $38,371,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter valued at $25,000. Avion Wealth lifted its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new position in Workday in the 4th quarter valued at $35,000. Financial Management Professionals Inc. raised its holdings in shares of Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Down 2.5%

Shares of Workday stock traded down $6.15 on Friday, reaching $244.54. 2,199,157 shares of the company were exchanged, compared to its average volume of 2,465,463. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market cap of $65.29 billion, a P/E ratio of 40.55, 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 stock's 50 day moving average price is $245.50 and its 200-day moving average price is $252.47.

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

Analyst Ratings Changes

Several research analysts have recently commented on WDAY shares. DA Davidson lifted their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. KeyCorp reduced their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Jefferies Financial Group reduced their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Oppenheimer reduced their price objective on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a report 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's stock. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $293.54.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 71,672 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $25,602,994.26. This represents a 41.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director now directly owns 67,500 shares of the company's stock, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,338 shares of company stock valued at $56,281,251 over the last three months. 19.31% of the stock is owned by corporate 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.