Polen Capital Management LLC Sells 514,903 Shares of Workday, Inc. (NASDAQ:WDAY)

Polen Capital Management LLC cut its stake in Workday, Inc. (NASDAQ:WDAY) by 10.7% in the fourth quarter, according to the company in its most recent 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 quarter. Workday accounts for 3.0% of Polen Capital Management LLC’s holdings, making the stock its 17th biggest position. Polen Capital Management LLC’s holdings in Workday were worth $1,106,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. Crews Bank & Trust bought a new stake in Workday during the 4th quarter worth approximately $26,000. Roxbury Financial LLC bought a new stake in Workday during the 4th quarter worth approximately $25,000. Avion Wealth increased its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price target on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on Workday in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Citigroup cut their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Oppenheimer increased their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Up 2.9 %

WDAY stock opened at $244.17 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $64.95 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 3.55 and a beta of 1.38. The business’s fifty day moving average price is $256.91 and its two-hundred day moving average price is $255.46. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY) last issued 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 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. On average, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,829 shares of company stock worth $113,033,319. Company insiders own 20.00% of the company’s stock.

Workday Company 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.