Meritage Group LP Has $315.57 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Meritage Group LP increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,291,132 shares of the software maker's stock after purchasing an additional 2,735 shares during the quarter. Workday accounts for 7.4% of Meritage Group LP's investment portfolio, making the stock its 6th biggest holding. Meritage Group LP owned approximately 0.49% of Workday worth $315,566,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. ORG Partners LLC grew its holdings in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker's stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP acquired a new position in Workday during the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after buying an additional 7,802 shares in the last quarter. Legal & General Group Plc increased its stake in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker's stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares of the company's stock, valued at approximately $125,032,950. This represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares of the company's stock, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock worth $88,422,088 over the last 90 days. Insiders own 20.00% of the company's stock.

Workday Stock Up 5.7 %

Shares of WDAY traded up $15.19 during midday trading on Monday, reaching $281.61. 8,990,325 shares of the stock were exchanged, compared to its average volume of 2,203,346. The company has a market cap of $74.63 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 4.91 and a beta of 1.34. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a 50 day simple moving average of $250.42 and a 200-day simple moving average of $237.39.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Research analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Workday from $250.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays cut their target price on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley increased their price target on Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Finally, KeyCorp lifted their price objective on shares of Workday from $275.00 to $305.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.21.

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.