Burney Co. Sells 1,763 Shares of Workday, Inc. (NASDAQ:WDAY)

Burney Co. lowered its position in Workday, Inc. (NASDAQ:WDAY) by 46.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,047 shares of the software maker’s stock after selling 1,763 shares during the quarter. Burney Co.’s holdings in Workday were worth $528,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after acquiring an additional 562,400 shares during the last quarter. Janus Henderson Group PLC increased its position in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Workday during the 3rd quarter worth approximately $78,003,000. Finally, D1 Capital Partners L.P. lifted its position in shares of Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after purchasing an additional 312,500 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Loop Capital cut their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $292.25.

Insider Activity

In other news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last ninety days. 20.00% of the stock is currently owned by insiders.

Workday Stock Down 0.4 %

Workday stock opened at $249.64 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s 50-day simple moving average is $262.54 and its 200 day simple moving average is $246.48. The stock has a market cap of $66.40 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. Research analysts predict that Workday, Inc. will post 2.64 EPS for the current fiscal year.

About Workday

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.