Fisher Asset Management LLC Trims Stake in Workday, Inc. $WDAY

Fisher Asset Management LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,500 shares of the software maker’s stock after selling 6,467 shares during the quarter. Fisher Asset Management LLC’s holdings in Workday were worth $9,240,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AlphaQuest LLC grew its holdings in shares of Workday by 636.7% in the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock worth $453,000 after purchasing an additional 1,630 shares during the last quarter. Norges Bank purchased a new stake in Workday during the 2nd quarter valued at $442,702,000. Chicago Capital LLC grew its holdings in Workday by 2.2% in the 2nd quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock worth $42,193,000 after acquiring an additional 3,824 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Workday by 21.1% in the second quarter. State of Alaska Department of Revenue now owns 30,370 shares of the software maker’s stock valued at $7,288,000 after acquiring an additional 5,300 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after acquiring an additional 515,529 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the completion of the transaction, the chief executive officer directly owned 20,222 shares in the company, valued at approximately $4,803,129.44. This trade represents a 23.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael M. Mcnamara sold 5,393 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares in the company, valued at approximately $5,662,182.48. This represents a 18.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 264,933 shares of company stock worth $61,475,760 over the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Workday Trading Up 0.8%

NASDAQ WDAY opened at $214.84 on Thursday. The firm has a market capitalization of $57.36 billion, a PE ratio of 90.27, a P/E/G ratio of 2.57 and a beta of 1.15. The stock’s 50 day moving average is $231.57 and its 200 day moving average is $234.49. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $294.00. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WDAY. Wells Fargo & Company cut their target price on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Evercore ISI increased their price objective on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. cut their price objective on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their target price on Workday from $330.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Finally, Stifel Nicolaus cut their price target on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $281.16.

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.