Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Commerce Bank

Commerce Bank boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 502.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,416 shares of the software maker's stock after acquiring an additional 12,858 shares during the period. Commerce Bank's holdings in Workday were worth $3,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of WDAY. Vanguard Group Inc. boosted its stake in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Geode Capital Management LLC grew its stake in Workday by 61.9% in 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 acquiring an additional 1,772,223 shares during the period. FIL Ltd raised its holdings in Workday by 6.5% in the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after acquiring an additional 181,899 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Workday by 5.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock worth $687,237,000 after purchasing an additional 136,211 shares during the period. Finally, Norges Bank purchased a new position in shares of Workday during the 4th quarter worth $645,710,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Oppenheimer increased their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Morgan Stanley cut their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Redburn Atlantic initiated coverage on Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Ten 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. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average price target of $292.86.

Workday Stock Performance

Shares of WDAY stock traded up $2.66 on Friday, hitting $239.53. 1,103,340 shares of the stock traded hands, compared to its average volume of 2,628,166. The company's fifty day moving average is $240.73 and its 200 day moving average is $251.77. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market capitalization of $63.71 billion, a PE ratio of 39.72, a PEG ratio of 3.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly 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 business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction on 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 transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is currently owned by insiders.

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.