Workday, Inc. (NASDAQ:WDAY) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,287,623 shares of the software maker’s stock after selling 514,903 shares during the period. Workday comprises 3.0% of Polen Capital Management LLC’s holdings, making the stock its 17th biggest holding. Polen Capital Management LLC owned about 1.61% of Workday worth $1,106,335,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WDAY. Simplicity Wealth LLC lifted its stake in Workday by 3.0% in the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares during the last quarter. Marcum Wealth LLC raised its position in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC increased its position in Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares during the period. Meeder Asset Management Inc. increased its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 2.9 %

Shares of NASDAQ WDAY opened at $244.17 on Monday. The firm’s 50-day simple moving average is $256.91 and its 200 day simple moving average is $255.46. The company has a market cap of $64.95 billion, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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 firm had revenue of $2.21 billion for 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%. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Scotiabank lifted their price target on shares of Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is currently owned by insiders.

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.