Westerly Capital Management LLC Lowers Stake in Workday, Inc. (NASDAQ:WDAY)

Westerly Capital Management LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 40.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,000 shares of the software maker’s stock after selling 10,000 shares during the quarter. Workday comprises about 1.8% of Westerly Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. 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 have also modified their holdings of the company. Comerica Bank lifted its position in Workday by 53.7% during the fourth quarter. Comerica Bank now owns 61,864 shares of the software maker’s stock valued at $15,963,000 after acquiring an additional 21,621 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Workday by 26.6% during the fourth quarter. AQR Capital Management LLC now owns 345,604 shares of the software maker’s stock worth $89,176,000 after purchasing an additional 72,658 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Workday by 0.6% during 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 last quarter. 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 in the last quarter. Finally, Northern Trust Corp increased its position in Workday by 51.2% during the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker’s stock valued at $584,175,000 after buying an additional 767,034 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42 % 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, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock worth $77,976,126 in the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Stock Up 1.5 %

Shares of NASDAQ WDAY opened at $243.39 on Wednesday. The stock has a market cap of $64.74 billion, a PE ratio of 40.36, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a 50-day moving average of $239.94 and a 200 day moving average of $251.83.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. UBS Group boosted their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Citigroup reduced their target price on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group reduced their price objective on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $292.86.

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.