Keystone Investors PTE Ltd. Buys New Stake in Workday, Inc. (NASDAQ:WDAY)

Keystone Investors PTE Ltd. purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,157 shares of the software maker's stock, valued at approximately $1,589,000.

Other large investors have also modified their holdings of the company. Moors & Cabot Inc. bought a new position in Workday in the 3rd quarter worth about $203,000. Cerity Partners LLC boosted its position in shares of Workday by 7.1% during the third quarter. Cerity Partners LLC now owns 78,595 shares of the software maker's stock worth $19,209,000 after buying an additional 5,189 shares during the period. Kingsview Wealth Management LLC grew its holdings in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock worth $1,243,000 after buying an additional 43 shares in the last quarter. Swedbank AB increased its position in Workday by 2.1% in the 3rd quarter. Swedbank AB now owns 82,847 shares of the software maker's stock valued at $20,249,000 after acquiring an additional 1,668 shares during the period. Finally, Larson Financial Group LLC raised its stake in Workday by 80.0% during the 3rd quarter. Larson Financial Group LLC now owns 754 shares of the software maker's stock valued at $184,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Down 2.5 %

NASDAQ WDAY traded down $6.06 during trading on Friday, reaching $238.49. 1,888,639 shares of the company's stock were exchanged, compared to its average volume of 2,522,044. The firm has a market capitalization of $63.44 billion, a PE ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 company's fifty day simple moving average is $256.67 and its 200-day simple moving average is $254.82.

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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 company 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%. Sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the subject of several recent analyst reports. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. StockNews.com lowered shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and upped their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Scotiabank lowered their price objective on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Ten equities research 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 MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.36.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,144 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,776,029.22. The trade was a 40.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 in the last ninety days. Corporate insiders own 20.00% of the company's stock.

About Workday

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.