Gilder Gagnon Howe & Co. LLC Has $20.01 Million Position in Workday Inc (WDAY)

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Gilder Gagnon Howe & Co. LLC cut its stake in Workday Inc (NASDAQ:WDAY) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 137,083 shares of the software maker’s stock after selling 4,897 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Workday were worth $20,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its position in shares of Workday by 5.0% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 20,437 shares of the software maker’s stock worth $2,983,000 after purchasing an additional 971 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Workday during the third quarter worth $62,598,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Workday during the third quarter worth $1,861,000. Congress Asset Management Co. MA bought a new stake in shares of Workday during the third quarter worth $613,000. Finally, State Treasurer State of Michigan bought a new stake in shares of Workday during the third quarter worth $9,489,000. Institutional investors own 67.47% of the company’s stock.

In other Workday news, insider Petros Dermetzis sold 6,699 shares of Workday stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $147.07, for a total value of $985,221.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aneel Bhusri sold 75,000 shares of Workday stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $144.66, for a total value of $10,849,500.00. The disclosure for this sale can be found here. Insiders sold 503,782 shares of company stock worth $68,244,014 in the last quarter. 33.59% of the stock is owned by insiders.

WDAY opened at $133.02 on Thursday. Workday Inc has a 1 year low of $95.35 and a 1 year high of $157.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market capitalization of $27.78 billion, a price-to-earnings ratio of -104.74 and a beta of 2.01.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, September 4th. The software maker reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. Workday had a negative return on equity of 13.36% and a negative net margin of 13.81%. The company had revenue of $671.70 million for the quarter, compared to analyst estimates of $663.38 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. Sell-side analysts predict that Workday Inc will post -1.11 EPS for the current fiscal year.

Several analysts have recently weighed in on WDAY shares. BidaskClub upgraded Workday from a “hold” rating to a “buy” rating in a research report on Saturday, July 14th. Piper Jaffray Companies reiterated an “overweight” rating and set a $160.00 target price (up from $150.00) on shares of Workday in a research report on Wednesday, August 15th. Guggenheim started coverage on Workday in a research report on Monday, August 20th. They set a “buy” rating and a $175.00 target price for the company. Needham & Company LLC lifted their target price on Workday from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Finally, Royal Bank of Canada lifted their target price on Workday to $159.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $149.26.

Workday Company Profile

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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