Optimize Financial Inc Invests $208,000 in Workday, Inc. (NASDAQ:WDAY)

Optimize Financial Inc acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 806 shares of the software maker’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. Norges Bank acquired a new stake in shares of Workday in the 4th quarter worth about $645,710,000. Parnassus Investments LLC lifted its position in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Geode Capital Management LLC boosted its stake 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. Finally, Invesco Ltd. boosted its stake in Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker’s stock valued at $478,846,000 after purchasing an additional 939,955 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Scotiabank lowered their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group reduced their price target on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Piper Sandler increased their price target on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Trading Up 0.8 %

Shares of NASDAQ WDAY opened at $226.51 on Monday. 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 one year low of $199.81 and a one year high of $294.00. The business has a 50-day moving average price of $248.47 and a two-hundred day moving average price of $252.86. The firm has a market capitalization of $60.25 billion, a PE ratio of 37.56, a PEG ratio of 3.55 and a beta of 1.32.

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

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction that occurred 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 owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,227 shares of company stock worth $77,863,531 over 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.