Baillie Gifford & Co. Has $1.63 Billion Stake in Workday, Inc. (NASDAQ:WDAY)

Baillie Gifford & Co. lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,333,137 shares of the software maker's stock after selling 240,479 shares during the quarter. Workday comprises about 1.3% of Baillie Gifford & Co.'s investment portfolio, making the stock its 20th biggest position. Baillie Gifford & Co. owned approximately 2.38% of Workday worth $1,634,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Allworth Financial LP increased its holdings in shares of Workday by 24.9% during the 4th quarter. Allworth Financial LP now owns 1,244 shares of the software maker's stock worth $315,000 after purchasing an additional 248 shares during the period. Palumbo Wealth Management LLC increased its holdings in shares of Workday by 39.1% during the 4th quarter. Palumbo Wealth Management LLC now owns 1,551 shares of the software maker's stock worth $400,000 after purchasing an additional 436 shares during the period. Roxbury Financial LLC bought a new position in shares of Workday during the 4th quarter worth about $25,000. Manchester Capital Management LLC increased its holdings in shares of Workday by 35.6% during the 4th quarter. Manchester Capital Management LLC now owns 198 shares of the software maker's stock worth $51,000 after purchasing an additional 52 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Workday by 48.7% during the 4th quarter. Rhumbline Advisers now owns 381,415 shares of the software maker's stock worth $98,416,000 after purchasing an additional 124,907 shares during the period. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company's stock, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 over the last quarter. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WDAY shares. The Goldman Sachs Group boosted their price objective on shares of Workday from $300.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Guggenheim upgraded shares of Workday from a "sell" rating to a "neutral" rating in a report on Monday, January 6th. Oppenheimer reiterated an "outperform" rating and set a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Mizuho lifted their target price on shares of Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.11.

Workday Stock Up 0.2 %

Shares of Workday stock traded up $0.53 on Thursday, hitting $261.63. The company had a trading volume of 1,747,357 shares, compared to its average volume of 2,082,302. The firm has a market capitalization of $69.59 billion, a P/E ratio of 43.39, a P/E/G ratio of 3.62 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. 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 50-day moving average of $261.36 and a 200-day moving average of $252.47.

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

About Workday

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.