LGT Group Foundation Buys 1,397 Shares of Workday, Inc. (NASDAQ:WDAY)

LGT Group Foundation lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,025 shares of the software maker’s stock after acquiring an additional 1,397 shares during the quarter. LGT Group Foundation’s holdings in Workday were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in WDAY. Stephens Inc. AR raised its position in shares of Workday by 19.3% during the third quarter. Stephens Inc. AR now owns 9,441 shares of the software maker’s stock worth $2,307,000 after acquiring an additional 1,528 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Workday by 12.1% during the third quarter. Janney Montgomery Scott LLC now owns 19,228 shares of the software maker’s stock worth $4,700,000 after acquiring an additional 2,076 shares during the last quarter. Angeles Wealth Management LLC raised its position in shares of Workday by 7.5% during the third quarter. Angeles Wealth Management LLC now owns 1,512 shares of the software maker’s stock worth $370,000 after acquiring an additional 106 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Workday by 6.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 299,023 shares of the software maker’s stock worth $73,084,000 after acquiring an additional 18,009 shares during the last quarter. Finally, Vestor Capital LLC bought a new stake in Workday in the third quarter worth approximately $44,000. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. Barclays lowered their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. BMO Capital Markets lifted their target price on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Workday Stock Down 3.3 %

WDAY stock opened at $254.57 on Tuesday. The stock’s fifty day simple moving average is $259.48 and its two-hundred day simple moving average is $255.31. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The stock has a market cap of $67.72 billion, a P/E ratio of 42.22, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 369,374 shares of company stock worth $95,786,918 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

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.