Workday, Inc. (NASDAQ:WDAY) Shares Sold by Chicago Capital LLC

Chicago Capital LLC reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 30.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 171,978 shares of the software maker's stock after selling 75,995 shares during the quarter. Chicago Capital LLC owned about 0.06% of Workday worth $40,162,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WDAY. Roxbury Financial LLC purchased a new stake in shares of Workday during the fourth quarter valued at $25,000. TCTC Holdings LLC acquired a new stake in Workday during the 4th quarter worth about $35,000. Farmers & Merchants Investments Inc. purchased a new stake in Workday during the 1st quarter valued at about $32,000. Rakuten Securities Inc. increased its holdings in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares during the period. Finally, Financial Management Professionals Inc. raised its stake in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson increased their price target on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Redburn Atlantic initiated coverage on shares of Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Westpark Capital increased their price target on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group decreased their price objective on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Price Performance

Workday stock opened at $245.65 on Tuesday. The firm has a market capitalization of $65.59 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 3.55 and a beta of 1.24. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a fifty day simple moving average of $246.20 and a 200-day simple moving average of $252.43.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The business 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%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. This trade represents a 40.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the business'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 sale, the director now directly owns 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,666 shares of company stock valued at $38,465,025 over the last quarter. 19.31% of the stock is 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.

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