Workday, Inc. (NASDAQ:WDAY) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,129 shares of the software maker’s stock after selling 8,768 shares during the quarter. Workday accounts for approximately 1.9% of Peregrine Capital Management LLC’s holdings, making the stock its 7th biggest position. Peregrine Capital Management LLC owned approximately 0.09% of Workday worth $62,425,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WDAY. RB Capital Management LLC lifted its holdings in shares of Workday by 2.8% during the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock worth $662,000 after purchasing an additional 76 shares during the period. Private Advisor Group LLC lifted its holdings in Workday by 11.8% in the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock valued at $601,000 after acquiring an additional 265 shares during the period. MetLife Investment Management LLC acquired a new stake in Workday in the first quarter valued at $2,974,000. Yousif Capital Management LLC lifted its holdings in Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock valued at $674,000 after acquiring an additional 74 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Workday by 10.3% in the first quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock valued at $812,000 after acquiring an additional 316 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WDAY. Evercore ISI raised their target price on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays reduced their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC raised their target price on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Citigroup raised their target price on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Workday Trading Up 0.7 %

NASDAQ:WDAY traded up $1.91 during mid-day trading on Tuesday, reaching $270.52. The company’s stock had a trading volume of 809,453 shares, compared to its average volume of 1,813,381. The company’s fifty day simple moving average is $284.20 and its two-hundred day simple moving average is $260.38. 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 twelve month low of $174.25 and a twelve month high of $311.28. The stock has a market cap of $71.42 billion, a P/E ratio of 52.16, a P/E/G ratio of 6.70 and a beta of 1.32.

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

Insider Activity

In other news, major shareholder David A. Duffield sold 62,731 shares of Workday stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $281.45, for a total value of $17,655,639.95. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $28,988,505.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 62,731 shares of Workday stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $281.45, for a total transaction of $17,655,639.95. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $28,988,505.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold 376,202 shares of company stock valued at $103,358,281 in the last three months. Corporate insiders own 21.09% of the company’s stock.

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.