Nellore Capital Management LLC Trims Holdings in Workday, Inc. (NASDAQ:WDAY)

Nellore Capital Management LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 33.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,240 shares of the software maker’s stock after selling 10,000 shares during the quarter. Workday makes up 0.7% of Nellore Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Nellore Capital Management LLC’s holdings in Workday were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Numerai GP LLC purchased a new stake in Workday in the 4th quarter valued at $1,077,000. OMERS ADMINISTRATION Corp raised its position in Workday by 20.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,815 shares of the software maker’s stock worth $2,275,000 after acquiring an additional 1,522 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Workday during the fourth quarter worth about $5,393,000. Old Well Partners LLC purchased a new position in Workday during the 4th quarter valued at about $1,806,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Workday by 14.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 319,499 shares of the software maker’s stock valued at $82,513,000 after acquiring an additional 40,423 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WDAY shares. KeyCorp raised their target price on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Workday from $290.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Scotiabank dropped their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Oppenheimer lifted their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price objective on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $293.62.

Insider Activity

In related news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. This represents a 44.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 19.31% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $270.02 on Wednesday. The firm has a market capitalization of $71.83 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a fifty day moving average of $238.96 and a 200-day moving average of $252.65. 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 quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 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 during the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.