Gotham Asset Management LLC Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Gotham Asset Management LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 94.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 996 shares of the software maker’s stock after selling 16,549 shares during the period. Gotham Asset Management LLC’s holdings in Workday were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bristlecone Advisors LLC raised its holdings in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in Workday in the fourth quarter valued at $369,000. Smith Group Asset Management LLC increased its holdings in Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker’s stock valued at $28,129,000 after buying an additional 9,324 shares in the last quarter. Swedbank AB increased its holdings in Workday by 17.7% in the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker’s stock valued at $25,165,000 after buying an additional 14,682 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Workday in the fourth quarter valued at $8,984,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on 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 represents a 1.42% 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 valued at $77,976,126 in the last ninety days. Company insiders own 19.31% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $273.84 on Wednesday. The firm’s 50 day moving average price is $241.93 and its 200-day moving average price is $253.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The firm has a market cap of $72.84 billion, a P/E ratio of 45.41, a P/E/G ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last announced 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 return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent analyst reports. Citigroup cut shares of Workday from a “neutral” rating to a “mixed” rating in a report on Friday. The Goldman Sachs Group lifted their target price on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Workday from $290.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Scotiabank dropped their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.62.

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.