ABC Arbitrage SA Takes Position in Workday, Inc. (NASDAQ:WDAY)

ABC Arbitrage SA bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,415 shares of the software maker's stock, valued at approximately $1,397,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new position in Workday in the third quarter valued at about $26,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth about $26,000. Avion Wealth lifted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Meeder Asset Management Inc. increased its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after buying an additional 43 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 1.7 %

Shares of WDAY stock traded down $4.62 on Wednesday, hitting $261.10. The company's stock had a trading volume of 2,855,288 shares, compared to its average volume of 2,084,576. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 43.30, a P/E/G ratio of 3.51 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm's fifty day moving average price is $261.59 and its 200-day moving average price is $252.41.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business posted $0.47 EPS. The company's revenue for the quarter was up 15.8% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on WDAY. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Redburn Atlantic assumed coverage on Workday in a research note on Wednesday. They set a "neutral" rating for the company. JMP Securities reiterated a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Bank of America decreased their price objective on Workday from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Finally, BNP Paribas raised shares of Workday to a "strong-buy" rating in a research report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $291.11.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company's stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Insiders own 20.00% of the company's stock.

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.