Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,708 shares of the software maker's stock after buying an additional 6,113 shares during the period. Cerity Partners LLC's holdings in Workday were worth $21,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Norges Bank acquired a new stake in Workday in the fourth quarter valued at approximately $645,710,000. Parnassus Investments LLC increased its position in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Workday during the 4th quarter valued at approximately $194,679,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Up 2.1 %

NASDAQ:WDAY traded up $4.77 during midday trading on Monday, reaching $231.28. The company had a trading volume of 749,906 shares, compared to its average volume of 2,605,124. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $61.52 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 3.55 and a beta of 1.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock's fifty day simple moving average is $248.47 and its 200-day simple moving average is $252.86.

Remove Ads

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price target on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Citigroup lowered their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company increased their target price on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus boosted their price target on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $300.18.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 81,275 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. This represents a 44.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday 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 transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. The trade was 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 have sold 321,227 shares of company stock valued at $77,863,531. Insiders own 20.00% of the company's stock.

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.