MIG Capital LLC Purchases 56,338 Shares of Workday, Inc. (NASDAQ:WDAY)

MIG Capital LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 81.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,204 shares of the software maker's stock after acquiring an additional 56,338 shares during the period. Workday comprises about 3.3% of MIG Capital LLC's investment portfolio, making the stock its 14th biggest holding. MIG Capital LLC's holdings in Workday were worth $32,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WDAY. Roxbury Financial LLC acquired a new stake in shares of Workday during the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in Workday in the fourth quarter worth about $26,000. Avion Wealth boosted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC acquired a new position in Workday during the 4th quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. increased its position in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 0.3 %

NASDAQ:WDAY traded down $0.77 during mid-day trading on Friday, reaching $223.97. The stock had a trading volume of 842,000 shares, compared to its average volume of 2,595,729. The stock has a market cap of $59.58 billion, a P/E ratio of 37.14, a PEG ratio of 3.55 and a beta of 1.32. The business's 50 day moving average is $249.14 and its 200 day moving average is $252.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDAY. Loop Capital raised their price target on Workday from $242.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, February 19th. Guggenheim reiterated a "neutral" rating on shares of Workday in a report on Wednesday, February 26th. Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. UBS Group lifted their price target on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and raised their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $300.18.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on 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 owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 377,699 shares of company stock valued at $91,780,220. 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.