Workday, Inc. (NASDAQ:WDAY) Stock Holdings Decreased by Weiss Asset Management LP

Weiss Asset Management LP reduced its position in Workday, Inc. (NASDAQ:WDAY – Get Rating) by 99.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,685 shares of the software maker’s stock after selling 55,920,315 shares during the period. Weiss Asset Management LP’s holdings in Workday were worth $7,563,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AllSquare Wealth Management LLC purchased a new position in Workday during the third quarter valued at approximately $25,000. Guardian Wealth Advisors LLC purchased a new position in Workday during the third quarter valued at approximately $29,000. Whittier Trust Co. grew its position in Workday by 69.0% during the third quarter. Whittier Trust Co. now owns 213 shares of the software maker’s stock valued at $32,000 after purchasing an additional 87 shares in the last quarter. CI Investments Inc. grew its position in Workday by 975.0% during the third quarter. CI Investments Inc. now owns 258 shares of the software maker’s stock valued at $39,000 after purchasing an additional 234 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new position in Workday during the third quarter valued at approximately $40,000. 66.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDAY has been the subject of a number of analyst reports. DA Davidson lifted their target price on shares of Workday from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. Barclays reduced their target price on shares of Workday from $220.00 to $216.00 and set an “overweight” rating for the company in a research note on Tuesday, February 28th. Capital One Financial initiated coverage on shares of Workday in a research note on Friday, January 13th. They issued an “overweight” rating and a $200.00 target price for the company. KeyCorp lifted their target price on shares of Workday from $195.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. Finally, OTR Global upgraded shares of Workday to a “positive” rating in a research note on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.72.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 266 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $191.44, for a total value of $50,923.04. Following the sale, the insider now directly owns 129,802 shares in the company, valued at approximately $24,849,294.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $183.34, for a total transaction of $916,700.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $916,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas A. Robinson sold 266 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $191.44, for a total value of $50,923.04. Following the sale, the insider now directly owns 129,802 shares of the company’s stock, valued at $24,849,294.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,377 shares of company stock worth $2,602,803. Company insiders own 21.74% of the company’s stock.

Workday Stock Down 1.5 %

Shares of NASDAQ:WDAY opened at $188.77 on Friday. Workday, Inc. has a 12 month low of $128.72 and a 12 month high of $248.92. The company’s 50-day moving average price is $180.90 and its two-hundred day moving average price is $164.11. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.53. The firm has a market cap of $48.89 billion, a P/E ratio of -131.09, a P/E/G ratio of 88.91 and a beta of 1.26.

Workday (NASDAQ:WDAY – Get Rating) last released its earnings results on Monday, February 27th. The software maker reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Workday had a negative net margin of 5.90% and a negative return on equity of 1.96%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the company posted ($0.20) EPS. The company’s revenue was up 19.6% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 0.08 EPS for the current fiscal year.

Workday declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 29th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the software maker to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

About Workday

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Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.