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

AlphaQuest LLC lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 88.8% during the fourth quarter, HoldingsChannel reports. The firm 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 Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WDAY shares. Wells Fargo & Company lifted their price objective on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Oppenheimer lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. UBS Group lifted their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus boosted their price target on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Performance

Workday stock opened at $252.50 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $67.17 billion, a PE ratio of 41.87, a P/E/G ratio of 3.55 and a beta of 1.38. The firm has a fifty day simple moving average of $256.84 and a two-hundred day simple moving average of $255.28. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY) last posted 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). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated 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 directly owns 228,000 shares of the company’s stock, valued at approximately $60,579,600. This trade represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 473,001 shares of company stock valued at $120,614,400. Insiders own 20.00% of the company’s stock.

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.