Workday, Inc. (NASDAQ:WDAY) Stake Reduced by Trexquant Investment LP

Trexquant Investment LP cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,183 shares of the software maker's stock after selling 11,004 shares during the quarter. Trexquant Investment LP's holdings in Workday were worth $10,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Corient Private Wealth LLC lifted its stake in shares of Workday by 17.3% in the 4th quarter. Corient Private Wealth LLC now owns 39,094 shares of the software maker's stock worth $10,792,000 after purchasing an additional 5,764 shares during the period. D.A. Davidson & CO. raised its position in Workday by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker's stock worth $343,000 after acquiring an additional 42 shares during the period. Clearbridge Investments LLC raised its holdings in Workday by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,260,982 shares of the software maker's stock worth $624,167,000 after purchasing an additional 114,660 shares during the period. Balentine LLC lifted its position in Workday by 12.5% during the fourth quarter. Balentine LLC now owns 6,097 shares of the software maker's stock valued at $1,683,000 after purchasing an additional 678 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in Workday by 6.2% during the fourth quarter. Thoroughbred Financial Services LLC now owns 1,621 shares of the software maker's stock valued at $447,000 after purchasing an additional 94 shares during the period. Institutional investors own 89.81% of the company's stock.

Workday Stock Down 0.2 %

Shares of NASDAQ WDAY traded down $0.64 during midday trading on Tuesday, reaching $258.86. 1,938,795 shares of the company's stock traded hands, compared to its average volume of 1,850,091. The company has a market cap of $68.34 billion, a price-to-earnings ratio of 50.26, a P/E/G ratio of 7.69 and a beta of 1.33. The stock's 50 day simple moving average is $261.31 and its 200-day simple moving average is $269.00. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a one year low of $191.04 and a one year high of $311.28.

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

Insider Transactions at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares of the company's stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the completion of the sale, the insider now owns 66,356 shares in the company, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,691 shares of company stock valued at $117,731,569. Corporate insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent research reports. Guggenheim reiterated a "sell" rating and set a $190.00 price objective on shares of Workday in a research note on Tuesday, February 27th. BMO Capital Markets lifted their target price on shares of Workday from $290.00 to $338.00 and gave the company an "outperform" rating in a research note on Tuesday, February 13th. DA Davidson reissued a "neutral" rating and set a $300.00 price target on shares of Workday in a report on Tuesday, February 27th. Oppenheimer dropped their price objective on Workday from $350.00 to $320.00 and set an "outperform" rating for the company in a research note on Wednesday, May 15th. Finally, Barclays decreased their target price on Workday from $326.00 to $316.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $296.64.

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.