Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 238,288 shares of the software maker’s stock after buying an additional 70,755 shares during the period. Douglas Lane & Associates LLC owned about 0.09% of Workday worth $61,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Workday in the third quarter valued at approximately $78,003,000. Finally, D1 Capital Partners L.P. increased its stake in Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Citigroup cut their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $292.25.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,085 shares of company stock valued at $95,380,557. 20.00% of the stock is owned by insiders.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $5.83 during trading on Wednesday, hitting $255.51. 1,243,969 shares of the stock were exchanged, compared to its average volume of 1,763,121. The company has a fifty day moving average price of $261.60 and a two-hundred day moving average price of $245.37. 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 company has a market cap of $67.97 billion, a PE ratio of 42.37, a P/E/G ratio of 5.04 and a beta of 1.34. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

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.