E Fund Management Co. Ltd. Buys 4,894 Shares of Workday, Inc. (NASDAQ:WDAY)

E Fund Management Co. Ltd. lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 246.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,880 shares of the software maker's stock after acquiring an additional 4,894 shares during the period. E Fund Management Co. Ltd.'s holdings in Workday were worth $1,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Candriam S.C.A. lifted its position in Workday by 7.7% during the 4th quarter. Candriam S.C.A. now owns 25,955 shares of the software maker's stock valued at $6,697,000 after acquiring an additional 1,861 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in shares of Workday by 5.0% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 5,786 shares of the software maker's stock valued at $1,493,000 after purchasing an additional 277 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Workday by 16.7% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,499 shares of the software maker's stock worth $387,000 after purchasing an additional 215 shares in the last quarter. Inceptionr LLC boosted its position in shares of Workday by 74.0% in the 4th quarter. Inceptionr LLC now owns 6,523 shares of the software maker's stock worth $1,683,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Workday in the 4th quarter worth approximately $194,679,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

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Analyst Ratings Changes

Several research firms have commented on WDAY. Morgan Stanley downgraded Workday from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on shares of Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Mizuho increased their price objective on shares of Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. UBS Group lifted their target price on shares of Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $302.14.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $0.07 during trading on Tuesday, hitting $242.93. The company had a trading volume of 2,838,178 shares, compared to its average volume of 2,422,582. The firm has a market capitalization of $64.62 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a 50 day simple moving average of $258.01 and a 200 day simple moving average of $256.02. 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 (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.