Cercano Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 70,423 shares of the software maker’s stock, valued at approximately $19,441,000.
Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Workday in the 4th quarter valued at about $3,878,000. Cornerstone Capital Inc. boosted its holdings in Workday by 7.8% in the fourth quarter. Cornerstone Capital Inc. now owns 82,365 shares of the software maker’s stock valued at $22,738,000 after acquiring an additional 5,946 shares during the last quarter. Motley Fool Asset Management LLC increased its position in Workday by 6.6% during the 4th quarter. Motley Fool Asset Management LLC now owns 7,888 shares of the software maker’s stock valued at $2,178,000 after purchasing an additional 486 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Workday by 0.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 117,911 shares of the software maker’s stock worth $32,551,000 after purchasing an additional 883 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Workday in the 4th quarter worth approximately $286,000. 89.81% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Evercore ISI upped their price target on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. UBS Group reduced their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.
Insider Buying and Selling
In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 in the last quarter. Corporate insiders own 21.09% of the company’s stock.
Workday Stock Down 1.2 %
Shares of WDAY stock traded down $3.02 during midday trading on Friday, reaching $251.04. 2,549,113 shares of the stock were exchanged, compared to its average volume of 1,310,809. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The firm has a market cap of $66.27 billion, a PE ratio of 48.75, a price-to-earnings-growth ratio of 6.27 and a beta of 1.32. The company’s 50 day moving average is $273.49 and its two-hundred day moving average is $264.07. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.
Workday (NASDAQ:WDAY – Get Free Report) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business posted ($0.14) EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Workday, Inc. will post 1.76 EPS 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.