Whale Rock Capital Management LLC lessened its stake in Workday Inc (NASDAQ:WDAY) by 83.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,560 shares of the software maker’s stock after selling 961,853 shares during the period. Workday comprises about 1.0% of Whale Rock Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Whale Rock Capital Management LLC owned approximately 0.09% of Workday worth $29,950,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Nvwm LLC lifted its holdings in Workday by 2.6% in the 4th quarter. Nvwm LLC now owns 5,073 shares of the software maker’s stock valued at $810,000 after acquiring an additional 127 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Workday by 0.8% during the fourth quarter. State of Alaska Department of Revenue now owns 17,941 shares of the software maker’s stock worth $2,864,000 after purchasing an additional 144 shares during the period. Cypress Asset Management Inc. TX boosted its position in shares of Workday by 175.7% in the fourth quarter. Cypress Asset Management Inc. TX now owns 11,620 shares of the software maker’s stock valued at $1,855,000 after acquiring an additional 7,405 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Workday in the fourth quarter valued at approximately $980,000. Finally, Avitas Wealth Management LLC boosted its position in shares of Workday by 2.9% in the third quarter. Avitas Wealth Management LLC now owns 11,058 shares of the software maker’s stock valued at $1,614,000 after acquiring an additional 308 shares during the period. Institutional investors and hedge funds own 69.10% of the company’s stock.
Shares of Workday stock traded up $2.84 during trading on Thursday, reaching $195.55. 403,669 shares of the company’s stock were exchanged, compared to its average volume of 2,328,551. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.11. Workday Inc has a 1-year low of $117.24 and a 1-year high of $200.00. The stock has a market capitalization of $42.14 billion, a P/E ratio of -160.29 and a beta of 1.82.
Several research analysts have issued reports on the company. KeyCorp increased their price objective on Workday from $179.00 to $216.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Monness Crespi & Hardt reiterated a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Workday in a report on Friday, November 30th. Stifel Nicolaus lifted their target price on Workday to $160.00 and gave the company a “hold” rating in a research report on Friday, November 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target (up previously from $170.00) on shares of Workday in a research report on Friday, March 1st. Finally, Jefferies Financial Group boosted their price target on Workday from $141.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, November 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Workday presently has an average rating of “Buy” and a consensus target price of $187.86.
In related news, Director David A. Duffield sold 304,404 shares of the company’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $164.29, for a total transaction of $50,010,533.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Petros Dermetzis sold 2,257 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $186.36, for a total value of $420,614.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,124,350 shares of company stock valued at $197,677,979. Insiders own 33.59% of the company’s stock.
Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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