Bamco Inc. NY Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bamco Inc. NY lowered its stake in Workday, Inc. (NASDAQ:WDAYFree Report) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,578 shares of the software maker’s stock after selling 422 shares during the quarter. Bamco Inc. NY’s holdings in Workday were worth $386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. ORG Partners LLC boosted its stake in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP purchased a new stake in shares of Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after acquiring an additional 7,802 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Atria Investments Inc raised its stake in Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $257.06 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50-day moving average of $249.10 and a two-hundred day moving average of $237.25. The stock has a market cap of $68.12 billion, a P/E ratio of 42.63, a P/E/G ratio of 4.66 and a beta of 1.34. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAYGet Free Report) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Workday, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. BMO Capital Markets reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a report on Wednesday. Bank of America reduced their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Read Our Latest Report on Workday

Insider Activity

In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the transaction, the insider now owns 505,000 shares in the company, valued at $125,032,950. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,960 shares of company stock valued at $72,753,210 in the last ninety days. Insiders own 20.00% of the company’s stock.

About Workday

(Free Report)

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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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