Freshford Capital Management LLC Buys New Position in Workday, Inc. (NASDAQ:WDAY)

Freshford Capital Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 111,788 shares of the software maker's stock, valued at approximately $28,845,000. Workday comprises about 8.2% of Freshford Capital Management LLC's portfolio, making the stock its 6th biggest position.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 1,772,223 shares during the last quarter. FIL Ltd raised its stake in shares of Workday by 6.5% during the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after purchasing an additional 181,899 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Workday by 5.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after buying an additional 136,211 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of Workday in the fourth quarter valued at $658,735,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WDAY shares. Wells Fargo & Company cut their price target on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday. Oppenheimer lifted their price target on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. KeyCorp raised their price objective on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $295.00.

Workday Trading Up 3.2 %

Shares of WDAY stock opened at $220.99 on Wednesday. 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, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market cap of $58.78 billion, a PE ratio of 36.65, a P/E/G ratio of 3.55 and a beta of 1.32. The stock's fifty day moving average price is $242.34 and its two-hundred day moving average price is $251.95.

Workday (NASDAQ:WDAY - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock valued at $77,976,126 in the last quarter. Insiders own 20.00% of the company's stock.

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.

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