Oppenheimer Asset Management Inc. Sells 1,990 Shares of Workday, Inc. (NASDAQ:WDAY)

Oppenheimer Asset Management Inc. lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,272 shares of the software maker's stock after selling 1,990 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Workday were worth $20,381,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Farmers & Merchants Investments Inc. acquired a new stake in Workday in the 1st quarter valued at approximately $32,000. TCTC Holdings LLC acquired a new stake in Workday in the 4th quarter valued at approximately $35,000. Financial Management Professionals Inc. raised its position in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. Rakuten Securities Inc. raised its position in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after buying an additional 66 shares during the last quarter. Finally, Rothschild Investment LLC raised its position in Workday by 169.6% in the 1st quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock valued at $50,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WDAY. Oppenheimer dropped their target price on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. KeyCorp dropped their target price on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Guggenheim reissued a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Finally, Canaccord Genuity Group lifted their target price on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $293.54.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. The trade was a 22.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now 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 three months, insiders sold 181,762 shares of company stock worth $41,995,382. 20.00% of the stock is owned by company insiders.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $1.61 during midday trading on Monday, hitting $236.58. 1,750,606 shares of the company's stock were exchanged, compared to its average volume of 2,457,739. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company's 50 day moving average price is $247.10 and its 200 day moving average price is $251.63. The firm has a market capitalization of $63.17 billion, a PE ratio of 130.71, a price-to-earnings-growth ratio of 3.60 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last issued its 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. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company 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 EPS. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.