Motley Fool Asset Management LLC Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Motley Fool Asset Management LLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,885 shares of the software maker’s stock after purchasing an additional 1,700 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Workday were worth $3,583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. World Investment Advisors purchased a new position in Workday during the fourth quarter valued at $495,000. Long Path Partners LP purchased a new position in Workday during the 4th quarter valued at about $12,141,000. OneAscent Financial Services LLC bought a new stake in Workday during the fourth quarter worth about $407,000. Bryce Point Capital LLC purchased a new stake in Workday in the fourth quarter worth about $1,071,000. Finally, Crescent Park Management L.P. increased its stake in shares of Workday by 38.6% during the fourth quarter. Crescent Park Management L.P. now owns 39,780 shares of the software maker’s stock valued at $10,264,000 after purchasing an additional 11,074 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Up 0.4 %

NASDAQ:WDAY opened at $235.39 on Thursday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The business has a fifty day moving average price of $255.66 and a 200-day moving average price of $254.45. The firm has a market capitalization of $62.61 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction 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. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 429,316 shares of company stock valued at $108,168,536 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Monday. Canaccord Genuity Group increased their target price on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised their price objective on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $300.18.

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.