Glynn Capital Management LLC lessened its stake in Workday Inc (NASDAQ:WDAY) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,106 shares of the software maker’s stock after selling 18,837 shares during the period. Workday makes up about 6.5% of Glynn Capital Management LLC’s holdings, making the stock its 6th biggest holding. Glynn Capital Management LLC’s holdings in Workday were worth $34,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Norges Bank purchased a new position in Workday in the 4th quarter worth approximately $198,900,000. 1832 Asset Management L.P. lifted its holdings in shares of Workday by 1,817.2% in the 4th quarter. 1832 Asset Management L.P. now owns 912,600 shares of the software maker’s stock worth $143,537,000 after acquiring an additional 865,000 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Workday in the 4th quarter worth approximately $132,247,000. Jennison Associates LLC lifted its holdings in shares of Workday by 6.0% in the 4th quarter. Jennison Associates LLC now owns 8,164,202 shares of the software maker’s stock worth $1,303,660,000 after acquiring an additional 462,730 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Workday in the 1st quarter worth approximately $49,230,000. 68.79% of the stock is owned by institutional investors and hedge funds.

NASDAQ:WDAY traded up $3.68 during midday trading on Wednesday, reaching $204.96. 18,762 shares of the stock traded hands, compared to its average volume of 1,364,194. Workday Inc has a 12 month low of $117.24 and a 12 month high of $208.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $43.09 billion, a P/E ratio of -168.24 and a beta of 1.79.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, February 28th. The software maker reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.02. Workday had a negative net margin of 14.82% and a negative return on equity of 14.75%. The company had revenue of $788.63 million during the quarter, compared to analyst estimates of $776.84 million. As a group, analysts anticipate that Workday Inc will post -1.2 EPS for the current year.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $179.58, for a total value of $53,874,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Duffield sold 278,758 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $179.40, for a total transaction of $50,009,185.20. The disclosure for this sale can be found here. Insiders sold a total of 1,125,508 shares of company stock valued at $208,331,415 over the last 90 days. Company insiders own 29.80% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Workday to $189.00 and gave the stock a “hold” rating in a report on Friday, March 1st. They noted that the move was a valuation call. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective (up from $170.00) on shares of Workday in a report on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Workday from $175.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. KeyCorp boosted their price objective on shares of Workday from $216.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Oppenheimer boosted their price objective on shares of Workday from $185.00 to $216.00 and gave the stock an “outperform” rating in a report on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $185.69.

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About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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