AlphaQuest LLC Sells 2,196 Shares of Workday, Inc. (NASDAQ:WDAY)

AlphaQuest LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 88.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 276 shares of the software maker’s stock after selling 2,196 shares during the period. AlphaQuest LLC’s holdings in Workday were worth $71,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Roxbury Financial LLC bought a new position in shares of Workday in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new position in shares of Workday in the 4th quarter valued at $26,000. Avion Wealth raised its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Meeder Asset Management Inc. raised its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. Finally, True Wealth Design LLC raised its position in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. This trade represents a 19.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 473,001 shares of company stock valued at $120,614,400 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $252.50 on Thursday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market cap of $67.17 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 3.55 and a beta of 1.38. 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 $256.84 and its 200 day simple moving average is $255.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on WDAY shares. Mizuho raised their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Loop Capital raised their target price on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus raised their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $300.36.

Workday Profile

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.