Ilmarinen Mutual Pension Insurance Co Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,216 shares of the software maker's stock after acquiring an additional 5,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Workday were worth $14,505,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WDAY. Wedbush Securities Inc. boosted its holdings in shares of Workday by 3.9% during the 4th quarter. Wedbush Securities Inc. now owns 2,346 shares of the software maker's stock worth $605,000 after buying an additional 89 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Workday by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 744,658 shares of the software maker's stock valued at $192,144,000 after purchasing an additional 3,030 shares in the last quarter. Oarsman Capital Inc. boosted its position in shares of Workday by 5.8% during the 4th quarter. Oarsman Capital Inc. now owns 928 shares of the software maker's stock worth $239,000 after purchasing an additional 51 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Workday during the 4th quarter worth approximately $16,892,000. Finally, Wells Fargo & Company MN boosted its holdings in Workday by 5.9% in the fourth quarter. Wells Fargo & Company MN now owns 733,038 shares of the software maker's stock worth $189,146,000 after acquiring an additional 40,698 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WDAY. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Monday, March 24th. KeyCorp raised their price target on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Scotiabank dropped their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Finally, Oppenheimer boosted their price target on shares of Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Ten investment 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. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average price target of $300.18.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at $2,544,814.67. The trade was a 22.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 70,144 shares of the 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 in the company, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 296,424 shares of company stock worth $74,332,103. Corporate insiders own 20.00% of the company's stock.

Workday Price Performance

WDAY traded down $4.12 on Thursday, hitting $227.30. 1,428,955 shares of the company's stock traded hands, compared to its average volume of 2,593,643. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company's 50 day simple moving average is $249.84 and its 200-day simple moving average is $253.08. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $60.46 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts anticipate that Workday, Inc. will post 2.63 EPS 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.