Eventide Asset Management LLC Has $26.28 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Eventide Asset Management LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,510 shares of the software maker’s stock after buying an additional 10,723 shares during the period. Eventide Asset Management LLC’s holdings in Workday were worth $26,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. The Manufacturers Life Insurance Company increased its position in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after purchasing an additional 75,747 shares in the last quarter. Legal & General Group Plc increased its holdings in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Workday by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after purchasing an additional 153,577 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Workday by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after acquiring an additional 4,127 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 6.2 %

Shares of WDAY opened at $253.40 on Friday. The stock’s 50-day moving average price is $248.74 and its two-hundred day moving average price is $237.44. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $67.15 billion, a PE ratio of 42.02, a PEG ratio of 5.03 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WDAY. KeyCorp raised their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Citigroup decreased their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. The Goldman Sachs Group raised their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock worth $88,742,132 in the last 90 days. Corporate 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.