Edgestream Partners L.P. Has $942,000 Holdings in Workday, Inc. $WDAY

Edgestream Partners L.P. lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 59.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,248 shares of the software maker’s stock after selling 10,822 shares during the period. Edgestream Partners L.P.’s holdings in Workday were worth $942,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Workday during the 4th quarter worth $448,804,000. Harvest Fund Management Co. Ltd grew its stake in Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after acquiring an additional 15,903 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Workday during the 4th quarter valued at about $2,357,000. Robeco Institutional Asset Management B.V. raised its position in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after purchasing an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC lifted its holdings in shares of Workday by 127.2% in the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after acquiring an additional 15,138 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. CLSA assumed coverage on shares of Workday in a research note on Monday, July 20th. They set an “underperform” rating and a $92.00 target price on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. Bank of America initiated coverage on Workday in a research report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 price objective on the stock. HC Wainwright set a $140.00 target price on shares of Workday in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reduced their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 875,020 shares of company stock worth $113,938,503 in the last quarter. Company insiders own 18.64% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $171.28 on Wednesday. The firm has a market capitalization of $42.31 billion, a P/E ratio of 53.52, a PEG ratio of 1.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day simple moving average of $137.99 and a two-hundred day simple moving average of $139.18. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $2.23 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Workday, Inc. will post 5.38 earnings per share for the current year.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.