Workday, Inc. (NASDAQ:WDAY) Stake Lifted by Oak Thistle LLC

Oak Thistle LLC raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 70.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the software maker's stock after buying an additional 4,519 shares during the period. Workday accounts for 0.8% of Oak Thistle LLC's holdings, making the stock its 8th largest holding. Oak Thistle LLC's holdings in Workday were worth $2,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanctuary Advisors LLC raised its stake in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after acquiring an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new position in Workday during the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock worth $7,791,000 after buying an additional 7,802 shares during the period. Nordea Investment Management AB grew its position in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after buying an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Workday by 7.4% in 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 buying an additional 118,180 shares during the period. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

WDAY has been the topic of a number of recent analyst reports. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. StockNews.com lowered shares of Workday from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Citigroup cut their price target on shares of Workday from $274.00 to $270.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 25th. Finally, Scotiabank started coverage on Workday in a report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $292.25.

Workday Price Performance

Shares of WDAY stock traded up $2.54 during trading hours on Wednesday, hitting $248.57. 3,172,705 shares of the company's stock were exchanged, compared to its average volume of 2,166,033. The company has a market capitalization of $66.12 billion, a PE ratio of 41.22, a PEG ratio of 5.04 and a beta of 1.34. 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 12-month low of $199.81 and a 12-month high of $311.28. The business's 50 day simple moving average is $262.75 and its 200-day simple moving average is $246.44.

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

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,347 shares of company stock worth $99,225,903 in the last three months. 20.00% of the stock is owned by insiders.

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.