Lone Pine Capital LLC Sells 60,921 Shares of Workday, Inc. (NASDAQ:WDAY)

Lone Pine Capital LLC lessened its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,543,464 shares of the software maker's stock after selling 60,921 shares during the period. Workday makes up about 3.0% of Lone Pine Capital LLC's investment portfolio, making the stock its 17th biggest holding. Lone Pine Capital LLC owned about 0.58% of Workday worth $398,260,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Workday in the fourth quarter valued at $26,000. Roxbury Financial LLC acquired a new stake in shares of Workday in the 4th quarter valued at $25,000. Avion Wealth boosted its holdings in shares of 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 acquired a new stake in shares of Workday in the 4th quarter valued at $35,000. Finally, Rakuten Securities Inc. lifted its stake in shares of 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 acquiring an additional 66 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WDAY shares. Morgan Stanley lowered their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Guggenheim reiterated a "neutral" rating on shares of Workday in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Loop Capital raised their price target on Workday from $242.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $292.86.

Insider Buying and Selling

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the 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 of the company's stock, valued at $22,111,395.96. This represents a 44.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock valued at $77,976,126 over the last ninety days. Insiders own 20.00% of the company's stock.

Workday Stock Up 0.7 %

Shares of Workday stock traded up $1.61 during midday trading on Thursday, hitting $246.61. The company's stock had a trading volume of 1,522,123 shares, compared to its average volume of 2,607,125. The firm has a market capitalization of $65.60 billion, a P/E ratio of 40.90, a PEG ratio of 3.55 and a beta of 1.32. The stock has a 50-day simple moving average of $239.72 and a 200-day simple moving average of $251.78. 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 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday 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.