Champlain Investment Partners LLC reduced its position in Workday Inc (NASDAQ:WDAY) by 29.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 753,210 shares of the software maker’s stock after selling 307,600 shares during the quarter. Workday comprises about 1.3% of Champlain Investment Partners LLC’s portfolio, making the stock its 25th largest position. Champlain Investment Partners LLC’s holdings in Workday were worth $145,257,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WDAY. Norges Bank bought a new position in Workday in the 4th quarter valued at about $198,900,000. 1832 Asset Management L.P. boosted its stake in shares of Workday by 1,817.2% in the 4th quarter. 1832 Asset Management L.P. now owns 912,600 shares of the software maker’s stock valued at $143,537,000 after purchasing an additional 865,000 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Workday in the 4th quarter valued at approximately $132,247,000. Jennison Associates LLC boosted its stake in shares of Workday by 6.8% in the 1st quarter. Jennison Associates LLC now owns 8,716,482 shares of the software maker’s stock valued at $1,680,974,000 after purchasing an additional 552,280 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Workday in the 1st quarter valued at approximately $59,187,000. 67.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on WDAY shares. Northland Securities restated a “hold” rating and issued a $240.00 price target on shares of Workday in a research note on Tuesday, May 28th. UBS Group raised their price target on shares of Workday from $148.00 to $160.00 and gave the company a “sell” rating in a research note on Wednesday, May 29th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target (up from $170.00) on shares of Workday in a research note on Friday, March 1st. JPMorgan Chase & Co. raised their price target on shares of Workday from $212.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Deutsche Bank raised their price target on shares of Workday from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, May 29th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $206.32.
In other news, Director David A. Duffield sold 175,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $186.18, for a total value of $32,581,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael M. Mcnamara purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $197.52 per share, for a total transaction of $197,520.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 843,419 shares of company stock worth $161,876,437. 29.80% of the stock is owned by corporate insiders.
NASDAQ:WDAY opened at $205.77 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.09 and a current ratio of 1.09. Workday Inc has a one year low of $117.24 and a one year high of $217.63. The company has a market cap of $48.29 billion, a P/E ratio of -168.66 and a beta of 1.67.
Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, May 28th. The software maker reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Workday had a negative return on equity of 14.92% and a negative net margin of 15.19%. The business had revenue of $825.10 million for the quarter, compared to analyst estimates of $814.21 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 33.2% on a year-over-year basis. On average, analysts expect that Workday Inc will post -1.04 earnings per share for the current fiscal year.
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Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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