SFE Investment Counsel Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

SFE Investment Counsel reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.2% in the second quarter, HoldingsChannel reports. The firm owned 5,300 shares of the software maker’s stock after selling 540 shares during the period. SFE Investment Counsel’s holdings in Workday were worth $1,265,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of Workday by 23.2% in the first quarter. Baillie Gifford & Co. now owns 10,232,905 shares of the software maker’s stock worth $2,542,161,000 after purchasing an additional 1,924,361 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Workday by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,576,619 shares of the software maker’s stock worth $2,130,690,000 after acquiring an additional 207,483 shares during the period. Janus Henderson Group PLC grew its holdings in Workday by 52.2% during the first quarter. Janus Henderson Group PLC now owns 3,314,094 shares of the software maker’s stock worth $823,319,000 after acquiring an additional 1,136,922 shares during the period. Clearbridge Investments LLC grew its holdings in Workday by 124.8% during the first quarter. Clearbridge Investments LLC now owns 2,460,146 shares of the software maker’s stock worth $611,174,000 after acquiring an additional 1,365,598 shares during the period. Finally, Sustainable Growth Advisers LP grew its holdings in Workday by 21.8% during the first quarter. Sustainable Growth Advisers LP now owns 2,449,293 shares of the software maker’s stock worth $608,478,000 after acquiring an additional 438,663 shares during the period. Institutional investors own 69.20% of the company’s stock.

In other Workday news, insider Richard Harry Sauer sold 2,469 shares of the stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $228.37, for a total transaction of $563,845.53. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robynne Sisco sold 5,961 shares of the stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $228.37, for a total value of $1,361,313.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,105 shares of company stock valued at $80,910,048. Company insiders own 24.06% of the company’s stock.

WDAY has been the topic of several research analyst reports. Barclays raised their price objective on Workday from $282.00 to $309.00 and gave the company an “equal weight” rating in a report on Friday, August 27th. KeyCorp lifted their price target on Workday from $295.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, August 27th. Stifel Nicolaus lifted their price objective on Workday from $275.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. BMO Capital Markets lifted their price objective on Workday from $260.00 to $295.00 and gave the stock a “market perform” rating in a research report on Friday, August 27th. Finally, Needham & Company LLC initiated coverage on Workday in a research report on Friday, August 27th. They set a “buy” rating and a $290.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $300.36.

WDAY traded down $0.56 on Wednesday, hitting $269.22. 19,645 shares of the company traded hands, compared to its average volume of 1,716,632. The company has a 50 day moving average of $244.82 and a 200-day moving average of $243.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $66.77 billion, a PE ratio of -1,498.69 and a beta of 1.28. Workday, Inc. has a 12-month low of $195.81 and a 12-month high of $282.77.

Workday (NASDAQ:WDAY) last issued its earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.45. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Workday had a positive return on equity of 3.49% and a negative net margin of 0.79%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. On average, research analysts anticipate that Workday, Inc. will post 0.09 EPS for the current year.

About Workday

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

Featured Story: Options Trading – What is a Straddle?

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY).

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.