Clearbridge Investments LLC Buys 136,211 Shares of Workday, Inc. (NASDAQ:WDAY)

Clearbridge Investments LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,663,398 shares of the software maker's stock after purchasing an additional 136,211 shares during the quarter. Clearbridge Investments LLC owned about 1.00% of Workday worth $687,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in WDAY. CIBC Private Wealth Group LLC lifted its stake in Workday by 180.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,158,549 shares of the software maker's stock valued at $295,071,000 after buying an additional 745,435 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Workday by 19.2% in the 4th quarter. California Public Employees Retirement System now owns 720,971 shares of the software maker's stock worth $186,032,000 after acquiring an additional 116,161 shares during the period. RWA Wealth Partners LLC lifted its position in Workday by 4.9% in the 4th quarter. RWA Wealth Partners LLC now owns 20,774 shares of the software maker's stock valued at $5,360,000 after purchasing an additional 972 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Workday by 183.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 281,387 shares of the software maker's stock valued at $72,606,000 after purchasing an additional 182,003 shares during the period. Finally, OneAscent Wealth Management LLC bought a new position in Workday in the 4th quarter worth about $262,000. Institutional investors own 89.81% of the company's stock.

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Workday Stock Up 0.4 %

WDAY stock traded up $0.86 during mid-day trading on Wednesday, hitting $235.39. The stock had a trading volume of 1,924,403 shares, compared to its average volume of 2,224,144. The stock has a market capitalization of $62.61 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 3.55 and a beta of 1.38. The company has a fifty day moving average of $256.02 and a 200 day moving average of $254.58. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. 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 posted its 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 net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 70,144 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 431,145 shares of company stock worth $108,631,438. Corporate insiders own 20.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WDAY. Guggenheim reiterated a "neutral" rating on shares of Workday in a research report on Wednesday, February 26th. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group cut their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a research report on Monday, March 24th. Finally, BMO Capital Markets boosted their price target on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $300.18.

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.