Martingale Asset Management L P Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Martingale Asset Management L P acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,403 shares of the software maker's stock, valued at approximately $362,000.

A number of other institutional investors also recently bought and sold shares of the company. Simplicity Wealth LLC raised its holdings in Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after purchasing an additional 37 shares during the period. Marcum Wealth LLC increased its position in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after buying an additional 41 shares in the last quarter. Custom Index Systems LLC raised its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after buying an additional 41 shares during the period. AllSquare Wealth Management LLC lifted its position in shares of Workday by 19.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after buying an additional 41 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its stake in shares of Workday by 3.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock valued at $385,000 after acquiring an additional 46 shares during the period. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on WDAY. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Scotiabank dropped their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Royal Bank of Canada boosted their price target on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Ten research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $296.25.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 over the last quarter. Insiders own 20.00% of the company's stock.

Workday Stock Down 2.9 %

Shares of WDAY traded down $6.69 during mid-day trading on Friday, hitting $221.02. The company's stock had a trading volume of 1,894,875 shares, compared to its average volume of 2,614,756. The firm has a market capitalization of $58.79 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 3.55 and a beta of 1.32. The company's 50-day moving average is $244.84 and its 200-day moving average is $252.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (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 the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities research analysts forecast 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.