Magnetar Financial LLC Sells 351 Shares of Workday, Inc. (NASDAQ:WDAY)

Magnetar Financial LLC lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the software maker’s stock after selling 351 shares during the quarter. Magnetar Financial LLC’s holdings in Workday were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WDAY. Parnassus Investments LLC raised its holdings in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Workday in the 4th quarter valued at $194,679,000. Two Sigma Advisers LP grew its stake in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Workday by 62.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock valued at $350,921,000 after buying an additional 524,799 shares during the last quarter. Finally, KBC Group NV grew its stake in Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. The trade was a 9.09 % 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 71,672 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 473,001 shares of company stock valued at $120,614,400. Insiders own 20.00% of the company’s stock.

Workday Trading Down 0.4 %

Shares of WDAY stock opened at $249.49 on Friday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a market capitalization of $66.36 billion, a P/E ratio of 41.37, a P/E/G ratio of 3.55 and a beta of 1.38. The firm has a 50-day moving average price of $256.76 and a 200 day moving average price of $255.11. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Analyst Ratings Changes

A number of research firms recently issued reports on WDAY. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Loop Capital raised their target price on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

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.