Adage Capital Partners GP L.L.C. Acquires 149,000 Shares of Workday, Inc. (NASDAQ:WDAY)

Adage Capital Partners GP L.L.C. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,986.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,500 shares of the software maker's stock after buying an additional 149,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.06% of Workday worth $40,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in Workday during the fourth quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in shares of Workday during the 4th quarter worth about $26,000. Avion Wealth increased its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in Workday during the fourth quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. grew its stake in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Trading Up 0.1 %

Shares of WDAY stock traded up $0.29 on Monday, reaching $239.82. 898,471 shares of the stock were exchanged, compared to its average volume of 2,621,563. The stock has a 50 day moving average price of $240.73 and a 200 day moving average price of $251.90. The stock has a market cap of $63.79 billion, a PE ratio of 39.77, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WDAY. Wells Fargo & Company reduced their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group boosted their price objective on Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada increased their price objective on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $292.86.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is owned by company insiders.

Workday 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.