Raymond James Financial Inc. Takes Position in Workday, Inc. (NASDAQ:WDAY)

Raymond James Financial Inc. purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 754,482 shares of the software maker's stock, valued at approximately $194,679,000. Raymond James Financial Inc. owned about 0.28% of Workday as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WDAY. Two Sigma Advisers LP raised its stake in shares of Workday by 1,094.2% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Workday by 62.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker's stock worth $350,921,000 after acquiring an additional 524,799 shares during the last quarter. KBC Group NV raised its stake in shares of Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker's stock worth $169,199,000 after acquiring an additional 506,812 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% in 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 acquiring an additional 480,459 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Workday by 2,166.1% in the fourth quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker's stock worth $104,044,000 after acquiring an additional 385,430 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. JMP Securities reissued a "market outperform" rating and set a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Loop Capital boosted their price target on shares of Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. BMO Capital Markets boosted their price target on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Finally, StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $302.14.

Workday Stock Performance

Shares of WDAY traded down $1.38 during trading hours on Friday, hitting $252.38. The company had a trading volume of 2,035,879 shares, compared to its average volume of 2,421,663. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.38. The business has a fifty day moving average of $258.39 and a 200-day moving average of $255.78. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share 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 net margin of 19.86% and a return on equity of 6.13%. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock valued at $113,033,319 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

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.