Brown Brothers Harriman & Co. Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Brown Brothers Harriman & Co. increased its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 316.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,598 shares of the software maker's stock after acquiring an additional 1,974 shares during the period. Brown Brothers Harriman & Co.'s holdings in Workday were worth $670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock valued at $1,218,415,000 after buying an additional 480,459 shares during the last quarter. State Street Corp lifted its position in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Workday by 2.7% during 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. Finally, Norges Bank purchased a new position in shares of Workday during the fourth quarter valued at approximately $645,710,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Remove Ads

Workday Price Performance

WDAY stock traded up $0.86 during midday trading on Wednesday, hitting $235.39. 1,924,836 shares of the stock were exchanged, compared to its average volume of 2,527,709. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock's 50-day moving average price is $256.02 and its 200-day moving average price is $254.58. The stock has a market cap of $62.61 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on WDAY. Citigroup decreased their price objective on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price objective on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $300.18.

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.87, for a total value of $14,216,720.00. Following the sale, the insider now owns 116,000 shares of the company's stock, valued at approximately $29,448,920. This represents a 32.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,145 shares of company stock valued at $108,631,438 in the last three months. Corporate insiders own 20.00% of the company's stock.

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.