Westerly Capital Management LLC Has $3.87 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Westerly Capital Management LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,000 shares of the software maker's stock after selling 10,000 shares during the quarter. Workday makes up 1.8% of Westerly Capital Management LLC's portfolio, making the stock its 20th biggest position. Westerly Capital Management LLC's holdings in Workday were worth $3,870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its stake in shares of Workday by 53.7% during the fourth quarter. Comerica Bank now owns 61,864 shares of the software maker's stock worth $15,963,000 after buying an additional 21,621 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Workday by 26.6% during the 4th quarter. AQR Capital Management LLC now owns 345,604 shares of the software maker's stock valued at $89,176,000 after acquiring an additional 72,658 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Workday by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 326,866 shares of the software maker's stock valued at $84,341,000 after purchasing an additional 1,997 shares during the period. Lido Advisors LLC boosted its position in shares of Workday by 208.3% in the 4th quarter. Lido Advisors LLC now owns 4,134 shares of the software maker's stock worth $1,067,000 after purchasing an additional 2,793 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Workday by 51.2% during the fourth quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock worth $584,175,000 after purchasing an additional 767,034 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at $26,729,781.44. The trade was a 39.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 in the last ninety days. Insiders own 20.00% of the company's stock.

Analyst Ratings Changes

WDAY has been the topic of a number of recent analyst reports. KeyCorp raised their target price on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Mizuho lowered their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Oppenheimer lifted their price target on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Royal Bank of Canada upped their price objective on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Workday has an average rating of "Moderate Buy" and a consensus price target of $292.86.

Workday Stock Up 0.8 %

WDAY stock traded up $2.07 during mid-day trading on Friday, reaching $248.68. The company had a trading volume of 1,302,174 shares, compared to its average volume of 2,596,618. The company has a market capitalization of $66.15 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock has a 50 day simple moving average of $239.28 and a two-hundred day simple moving average of $251.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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