Pinebridge Investments L.P. Has $9.81 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Pinebridge Investments L.P. boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,008 shares of the software maker's stock after acquiring an additional 2,303 shares during the quarter. Pinebridge Investments L.P.'s holdings in Workday were worth $9,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Grafton Street Partners Fund LP boosted its position in shares of Workday by 291.5% during the fourth quarter. Grafton Street Partners Fund LP now owns 70,870 shares of the software maker's stock worth $18,287,000 after buying an additional 52,770 shares during the period. J. Safra Sarasin Holding AG boosted its position in Workday by 22.9% during the 4th quarter. J. Safra Sarasin Holding AG now owns 98,188 shares of the software maker's stock worth $25,335,000 after acquiring an additional 18,272 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Workday by 10.2% in the fourth quarter. Stifel Financial Corp now owns 437,045 shares of the software maker's stock valued at $112,770,000 after purchasing an additional 40,286 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Workday by 3.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 29,912 shares of the software maker's stock worth $7,718,000 after purchasing an additional 938 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in Workday in the 4th quarter valued at $26,210,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

NASDAQ WDAY traded up $0.29 during trading on Monday, hitting $239.82. 898,471 shares of the company's stock were exchanged, compared to its average volume of 2,621,563. The company has a market cap of $63.79 billion, a PE ratio of 39.77, a P/E/G ratio of 3.55 and a beta of 1.32. 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 fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock's 50 day moving average price is $240.73 and its two-hundred day moving average price is $251.90.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly 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%. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. This trade represents a 44.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last 90 days. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. KeyCorp lifted their target price on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Royal Bank of Canada boosted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Piper Sandler dropped their price objective on Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, BNP Paribas raised Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten investment 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 target price of $292.86.

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.