2,552,939 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,552,939 shares of the software maker's stock, valued at approximately $658,735,000. T. Rowe Price Investment Management Inc. owned approximately 0.96% of Workday as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Pinebridge Investments L.P. grew its stake in Workday by 6.5% in the 4th quarter. Pinebridge Investments L.P. now owns 38,008 shares of the software maker's stock valued at $9,807,000 after acquiring an additional 2,303 shares during the last quarter. Grafton Street Partners Fund LP lifted its holdings in shares of Workday by 291.5% in the fourth quarter. Grafton Street Partners Fund LP now owns 70,870 shares of the software maker's stock valued at $18,287,000 after purchasing an additional 52,770 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in shares of Workday by 22.9% in the fourth quarter. J. Safra Sarasin Holding AG now owns 98,188 shares of the software maker's stock valued at $25,335,000 after purchasing an additional 18,272 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Workday by 10.2% during the 4th quarter. Stifel Financial Corp now owns 437,045 shares of the software maker's stock worth $112,770,000 after purchasing an additional 40,286 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of Workday by 3.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 29,912 shares of the software maker's stock worth $7,718,000 after purchasing an additional 938 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WDAY. Daiwa America raised Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. KeyCorp lifted their price objective on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Monday, March 24th. Finally, StockNews.com lowered shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $295.00.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock valued at $77,976,126 in the last ninety days. Corporate insiders own 20.00% of the company's stock.

Workday Stock Performance

Shares of WDAY stock opened at $220.99 on Wednesday. The company's fifty day simple moving average is $242.34 and its 200-day simple moving average is $251.95. 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 52 week low of $199.81 and a 52 week high of $294.00. The company has a market cap of $58.78 billion, a PE ratio of 36.65, a P/E/G ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 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.

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