Prudential Financial Inc. Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

Prudential Financial Inc. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,762 shares of the software maker's stock after acquiring an additional 15,307 shares during the quarter. Prudential Financial Inc. owned 0.07% of Workday worth $49,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Janus Henderson Group PLC boosted its position in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp grew its holdings in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. Finally, Parnassus Investments LLC raised its stake in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WDAY. Oppenheimer boosted their price target on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. KeyCorp raised their price target on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. UBS Group boosted their price objective on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group raised their target price on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Monday, March 24th. Ten investment 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 company's stock. According to data from MarketBeat, Workday has an average rating of "Moderate Buy" and a consensus price target of $300.36.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 487,145 shares of company stock worth $123,289,438 over the last 90 days. Corporate insiders own 20.00% of the company's stock.

Workday Price Performance

Shares of NASDAQ WDAY traded down $6.06 during mid-day trading on Friday, reaching $238.49. The company's stock had a trading volume of 1,888,639 shares, compared to its average volume of 2,522,044. 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 52 week low of $199.81 and a 52 week high of $294.00. The stock has a fifty day moving average of $256.67 and a two-hundred day moving average of $254.83. The firm has a market capitalization of $63.44 billion, a PE ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.