Envestnet Asset Management Inc. Grows Position in Workday, Inc. (NASDAQ:WDAY)

Envestnet Asset Management Inc. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 744,658 shares of the software maker's stock after buying an additional 3,030 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Workday worth $192,144,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oarsman Capital Inc. raised its position in Workday by 5.8% during the 4th quarter. Oarsman Capital Inc. now owns 928 shares of the software maker's stock valued at $239,000 after purchasing an additional 51 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in Workday in the fourth quarter worth about $16,892,000. Wells Fargo & Company MN boosted its position in Workday by 5.9% during the 4th quarter. Wells Fargo & Company MN now owns 733,038 shares of the software maker's stock valued at $189,146,000 after acquiring an additional 40,698 shares in the last quarter. Prudential PLC raised its position in shares of Workday by 3.4% in the 4th quarter. Prudential PLC now owns 32,081 shares of the software maker's stock worth $8,278,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Pitcairn Co. boosted its position in shares of Workday by 2.1% during the fourth quarter. Pitcairn Co. now owns 14,337 shares of the software maker's stock valued at $3,699,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Citigroup lowered their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada increased their target price on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average target price of $300.18.

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Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 472 shares of the company's 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 directly owns 35,408 shares of the company's stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,699 shares of company stock valued at $91,780,220 over the last quarter. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

WDAY traded up $1.77 during trading on Friday, hitting $226.51. The company's stock had a trading volume of 2,203,615 shares, compared to its average volume of 2,606,894. The business's 50 day simple moving average is $248.47 and its 200-day simple moving average is $252.81. The firm has a market cap of $60.25 billion, a PE ratio of 37.56, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

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.