Workday, Inc. (NASDAQ:WDAY) Stake Cut by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 47.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,389 shares of the software maker's stock after selling 2,177 shares during the period. Pallas Capital Advisors LLC's holdings in Workday were worth $558,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Workday by 2.7% in the 1st quarter. Farther Finance Advisors LLC now owns 3,494 shares of the software maker's stock worth $819,000 after buying an additional 93 shares during the last quarter. Wedmont Private Capital boosted its position in Workday by 69.5% in the first quarter. Wedmont Private Capital now owns 2,005 shares of the software maker's stock worth $454,000 after purchasing an additional 822 shares during the last quarter. UMB Bank n.a. grew its stake in Workday by 29.0% in the 1st quarter. UMB Bank n.a. now owns 1,367 shares of the software maker's stock valued at $319,000 after purchasing an additional 307 shares during the period. Gateway Investment Advisers LLC increased its position in shares of Workday by 31.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 39,241 shares of the software maker's stock valued at $9,164,000 after purchasing an additional 9,402 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of Workday by 2.9% during the 1st quarter. Congress Asset Management Co. now owns 41,399 shares of the software maker's stock worth $9,668,000 after purchasing an additional 1,182 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 0.3%

NASDAQ WDAY traded down $0.67 during mid-day trading on Thursday, reaching $250.69. 1,963,815 shares of the stock were exchanged, compared to its average volume of 2,461,087. The stock has a market capitalization of $66.93 billion, a PE ratio of 41.57, a PEG ratio of 3.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The business's fifty day simple moving average is $244.11 and its 200 day simple moving average is $252.77.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) 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 firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.74 earnings per share. On average, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WDAY. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Morgan Stanley set a $255.00 price target on Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 15,000 shares of Workday stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $243.17, for a total value of $3,647,550.00. Following the completion of the transaction, the insider now directly owns 45,000 shares in the company, valued at approximately $10,942,650. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the 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. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 252,338 shares of company stock worth $59,928,801. 19.31% of the stock is currently owned by company 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.