Ramirez Asset Management Inc. Invests $155,000 in Workday, Inc. (NASDAQ:WDAY)

Ramirez Asset Management Inc. acquired a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, Holdings Channel.com reports. The firm acquired 600 shares of the software maker’s stock, valued at approximately $155,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WDAY. Roxbury Financial LLC purchased a new stake in Workday during the 4th quarter worth about $25,000. Crews Bank & Trust purchased a new position in Workday during the 4th quarter worth $26,000. Avion Wealth boosted its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of Workday in the 4th quarter valued at approximately $35,000. Finally, True Wealth Design LLC increased its holdings in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 2.5 %

NASDAQ:WDAY opened at $244.55 on Friday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $256.89 and its 200 day moving average price is $254.93.

Workday (NASDAQ:WDAY) last posted its quarterly 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WDAY. Scotiabank cut their price target on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Mizuho boosted their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 487,145 shares of company stock valued at $123,289,438 over the last three months. 20.00% of the stock is currently owned by 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.