Bridgewater Associates LP Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Bridgewater Associates LP boosted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,114.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,161 shares of the software maker's stock after purchasing an additional 90,078 shares during the period. Bridgewater Associates LP's holdings in Workday were worth $25,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WDAY. Ontario Teachers Pension Plan Board purchased a new stake in shares of Workday during the fourth quarter valued at approximately $236,000. Guggenheim Capital LLC increased its position in shares of Workday by 25.2% in the fourth quarter. Guggenheim Capital LLC now owns 98,488 shares of the software maker's stock valued at $25,413,000 after acquiring an additional 19,836 shares during the period. LTS One Management LP bought a new stake in shares of Workday in the fourth quarter worth about $14,546,000. Canada Post Corp Registered Pension Plan purchased a new position in Workday during the 4th quarter valued at about $890,000. Finally, XTX Topco Ltd bought a new position in Workday during the 4th quarter valued at approximately $618,000. 89.81% of the stock is owned by institutional investors.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 321,724 shares of company stock valued at $77,976,126. Insiders own 20.00% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded down $6.69 on Friday, reaching $221.02. 1,894,875 shares of the stock were exchanged, compared to its average volume of 2,620,204. The firm has a market capitalization of $58.79 billion, a PE ratio of 36.65, a PEG 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's 50-day simple moving average is $244.00 and its two-hundred day simple moving average is $252.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS 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 analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. Morgan Stanley dropped their price target on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research note on Wednesday. DA Davidson cut their price objective on Workday from $270.00 to $230.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Oppenheimer raised their target price on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and upped their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised their price objective on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research report 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $296.25.

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.