Peregrine Capital Management LLC Trims Holdings in Workday, Inc. (NASDAQ:WDAY)

Peregrine Capital Management LLC reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,129 shares of the software maker's stock after selling 8,768 shares during the period. Workday comprises approximately 1.9% of Peregrine Capital Management LLC's holdings, making the stock its 7th biggest position. Peregrine Capital Management LLC owned 0.09% of Workday worth $62,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WDAY. RB Capital Management LLC grew its holdings in Workday by 2.8% during the 1st quarter. RB Capital Management LLC now owns 2,763 shares of the software maker's stock worth $662,000 after acquiring an additional 76 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Workday by 11.8% in the 1st quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker's stock valued at $601,000 after buying an additional 265 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Workday in the 1st quarter valued at about $2,974,000. Yousif Capital Management LLC boosted its holdings in shares of Workday by 2.7% in the 1st quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker's stock valued at $674,000 after buying an additional 74 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of Workday by 10.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker's stock valued at $812,000 after buying an additional 316 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. DA Davidson reaffirmed a "neutral" rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, February 27th. Citigroup lifted their price target on shares of Workday from $270.00 to $293.00 and gave the company a "neutral" rating in a report on Tuesday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Finally, Morgan Stanley cut their price objective on shares of Workday from $335.00 to $330.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and an average price target of $293.61.

Workday Price Performance

Shares of WDAY traded up $2.49 during mid-day trading on Tuesday, hitting $271.10. The company's stock had a trading volume of 1,232,699 shares, compared to its average volume of 1,820,236. The firm has a 50-day moving average price of $284.20 and a 200 day moving average price of $260.38. The stock has a market capitalization of $71.57 billion, a price-to-earnings ratio of 52.16, a PEG ratio of 6.70 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The firm's revenue was up 16.8% compared to the same quarter last year. On average, research analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In other news, Director George J. Still, Jr. sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the sale, the director now owns 105,000 shares in the company, valued at $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The disclosure for this sale can be found here. Insiders have sold 376,202 shares of company stock worth $103,358,281 over the last 90 days. 21.09% of the stock is owned by company insiders.

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.