Kayne Anderson Rudnick Investment Management LLC Sells 4,979 Shares of Workday, Inc. (NASDAQ:WDAY)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.8% during the 4th quarter, Holdings Channel reports. The fund owned 173,342 shares of the software maker’s stock after selling 4,979 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Workday were worth $44,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirova grew its stake in shares of Workday by 3.6% during the fourth quarter. Mirova now owns 21,242 shares of the software maker’s stock valued at $5,481,000 after purchasing an additional 729 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Workday by 392.1% in the 4th quarter. MetLife Investment Management LLC now owns 65,681 shares of the software maker’s stock valued at $16,948,000 after acquiring an additional 52,335 shares during the last quarter. Natixis increased its stake in Workday by 257.4% in the fourth quarter. Natixis now owns 72,807 shares of the software maker’s stock valued at $18,786,000 after purchasing an additional 52,433 shares in the last quarter. Norinchukin Bank The lifted its holdings in Workday by 375.4% during the fourth quarter. Norinchukin Bank The now owns 9,512 shares of the software maker’s stock worth $2,454,000 after acquiring an additional 7,511 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Workday by 11.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,371 shares of the software maker’s stock valued at $6,288,000 after purchasing an additional 2,594 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WDAY. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and upped their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.25.

Insider Activity

In related news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 over the last quarter. Insiders own 20.00% of the company’s stock.

Workday Trading Down 2.9 %

NASDAQ WDAY opened at $221.02 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The business has a 50 day moving average price of $244.00 and a 200-day moving average price of $252.36. 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 cap of $58.79 billion, a price-to-earnings ratio of 36.65, a P/E/G ratio of 3.55 and a beta of 1.32.

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

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.