Point72 Asset Management L.P. Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

Point72 Asset Management L.P. lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 48.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,791 shares of the software maker’s stock after selling 164,668 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.07% of Workday worth $43,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of Workday by 23.2% during the 1st quarter. Baillie Gifford & Co. now owns 10,232,905 shares of the software maker’s stock valued at $2,542,161,000 after acquiring an additional 1,924,361 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Workday by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,576,619 shares of the software maker’s stock valued at $2,130,690,000 after acquiring an additional 207,483 shares during the period. Janus Henderson Group PLC grew its stake in shares of Workday by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,314,094 shares of the software maker’s stock valued at $823,319,000 after acquiring an additional 1,136,922 shares during the period. Clearbridge Investments LLC boosted its stake in Workday by 124.8% in the 1st quarter. Clearbridge Investments LLC now owns 2,460,146 shares of the software maker’s stock worth $611,174,000 after purchasing an additional 1,365,598 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in Workday by 21.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 2,449,293 shares of the software maker’s stock worth $608,478,000 after purchasing an additional 438,663 shares during the period. 68.22% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on WDAY. JMP Securities increased their target price on Workday from $296.00 to $310.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 27th. Wolfe Research assumed coverage on Workday in a report on Thursday, April 22nd. They set an “outperform” rating and a $300.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Workday presently has an average rating of “Buy” and a consensus price target of $273.65.

Shares of NASDAQ WDAY opened at $237.36 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $58.63 billion, a P/E ratio of -334.31 and a beta of 1.28. The business has a 50-day simple moving average of $232.71. Workday, Inc. has a fifty-two week low of $174.52 and a fifty-two week high of $282.77.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, May 25th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. Workday had a negative return on equity of 0.14% and a negative net margin of 3.81%. On average, analysts expect that Workday, Inc. will post -0.54 EPS for the current year.

In other news, CEO Gomez Luciano Fernandez sold 4,305 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $226.43, for a total value of $974,781.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Harry Sauer sold 2,483 shares of the business’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $230.72, for a total value of $572,877.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,039 shares of company stock valued at $31,158,013. 26.51% of the stock is owned by company insiders.

Workday Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human resources. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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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