Workday, Inc. (NASDAQ:WDAY) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 124.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,752 shares of the software maker's stock after purchasing an additional 126,349 shares during the period. Alliancebernstein L.P. owned approximately 0.09% of Workday worth $58,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. State Street Corp boosted its position in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares during the period. Clearbridge Investments LLC boosted its position in shares of Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock worth $687,237,000 after acquiring an additional 136,211 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Workday during the fourth quarter worth $645,710,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at $2,544,814.67. The trade was a 22.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,776,029.22. This trade represents a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 296,424 shares of company stock valued at $74,332,103. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. BNP Paribas raised shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Daiwa America raised shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group increased their target price on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Ten 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. According to data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average price target of $300.18.

Workday Stock Performance

WDAY traded down $7.75 during trading on Thursday, reaching $223.67. 460,501 shares of the company's stock were exchanged, compared to its average volume of 2,589,738. Workday, Inc. has a 1 year low of $199.81 and a 1 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. The stock has a market capitalization of $59.50 billion, a P/E ratio of 37.21, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The company's fifty day simple moving average is $249.84 and its 200-day simple moving average is $253.08.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $2.18 billion. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.