Workday, Inc. (NASDAQ:WDAY) Shares Purchased by OV Management LLC

OV Management LLC raised its stake in Workday, Inc. (NASDAQ:WDAY) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,110 shares of the software maker’s stock after acquiring an additional 343 shares during the period. OV Management LLC’s holdings in Workday were worth $1,577,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WDAY. Geode Capital Management LLC boosted its position in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Diametric Capital LP bought a new stake in Workday in the fourth quarter valued at $1,050,000. National Bank of Canada FI boosted its holdings in shares of Workday by 161.7% during the fourth quarter. National Bank of Canada FI now owns 140,926 shares of the software maker’s stock valued at $36,365,000 after acquiring an additional 87,082 shares during the period. HighPoint Advisor Group LLC boosted its holdings in shares of Workday by 22.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 4,344 shares of the software maker’s stock valued at $1,142,000 after acquiring an additional 804 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its position in shares of Workday by 6.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 27,658 shares of the software maker’s stock worth $7,137,000 after acquiring an additional 1,742 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on WDAY shares. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Stifel Nicolaus raised their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Trading Down 2.1 %

Workday stock opened at $233.53 on Tuesday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $62.12 billion, a price-to-earnings ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a 50 day moving average price of $256.35 and a 200 day moving average price of $254.69.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were 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 in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 431,145 shares of company stock valued at $108,631,438 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

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.