Bank of New York Mellon Corp Boosts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Bank of New York Mellon Corp lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 28.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,465,917 shares of the software maker’s stock after purchasing an additional 326,251 shares during the period. Bank of New York Mellon Corp’s holdings in Workday were worth $378,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Crews Bank & Trust bought a new position in Workday in the fourth quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter valued at $25,000. Avion Wealth raised its position in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Workday in the 3rd quarter worth $26,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WDAY shares. Royal Bank of Canada lifted their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Canaccord Genuity Group increased their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Stock Up 6.2 %

Shares of WDAY opened at $271.09 on Thursday. The stock’s 50-day moving average price is $260.01 and its 200-day moving average price is $254.24. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $72.11 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $298.50.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This trade represents a 40.46 % 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 hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

About Workday

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.