Lazard Asset Management LLC Trims Holdings in Workday, Inc. (NASDAQ:WDAY)

Lazard Asset Management LLC lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAYGet Rating) by 100.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,569 shares of the software maker’s stock after selling 63,337,197 shares during the period. Lazard Asset Management LLC’s holdings in Workday were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WDAY. Steadfast Capital Management LP grew its holdings in shares of Workday by 8,913.6% during the 1st quarter. Steadfast Capital Management LP now owns 686,474 shares of the software maker’s stock worth $164,383,000 after acquiring an additional 678,858 shares during the period. Van ECK Associates Corp grew its holdings in shares of Workday by 1,909.8% during the 2nd quarter. Van ECK Associates Corp now owns 537,732 shares of the software maker’s stock worth $75,057,000 after acquiring an additional 510,977 shares during the period. Viking Global Investors LP grew its holdings in shares of Workday by 28.7% during the 1st quarter. Viking Global Investors LP now owns 2,253,470 shares of the software maker’s stock worth $539,616,000 after acquiring an additional 501,881 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Workday by 940.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 376,183 shares of the software maker’s stock worth $90,081,000 after acquiring an additional 340,035 shares during the period. Finally, Scout Investments Inc. purchased a new position in shares of Workday during the 2nd quarter worth approximately $46,008,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 102,500 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $156.24, for a total value of $16,014,600.00. Following the completion of the sale, the insider now directly owns 102,500 shares in the company, valued at approximately $16,014,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 102,500 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $156.24, for a total value of $16,014,600.00. Following the completion of the sale, the insider now owns 102,500 shares in the company, valued at approximately $16,014,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gomez Luciano Fernandez sold 2,046 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $158.32, for a total value of $323,922.72. Following the completion of the sale, the chief executive officer now owns 257,656 shares of the company’s stock, valued at approximately $40,792,097.92. The disclosure for this sale can be found here. Insiders sold 120,974 shares of company stock worth $18,758,209 in the last three months. Corporate insiders own 21.74% of the company’s stock.

Workday Trading Down 1.4 %

NASDAQ:WDAY opened at $146.74 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of -188.13 and a beta of 1.29. Workday, Inc. has a one year low of $128.72 and a one year high of $297.50. The business has a fifty day moving average price of $149.52 and a 200-day moving average price of $153.09.

Workday (NASDAQ:WDAYGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The software maker reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Workday had a negative return on equity of 2.34% and a negative net margin of 3.46%. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts forecast that Workday, Inc. will post -0.61 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on WDAY shares. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, November 7th. Wolfe Research boosted their price target on Workday from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th. OTR Global cut Workday to a “mixed” rating in a research report on Tuesday, August 23rd. StockNews.com started coverage on Workday in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets dropped their price target on Workday from $239.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 26th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $233.23.

Workday Company Profile

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Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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