Rhumbline Advisers Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Rhumbline Advisers raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 48.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,415 shares of the software maker's stock after buying an additional 124,907 shares during the period. Rhumbline Advisers owned 0.14% of Workday worth $98,416,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WDAY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Workday by 5.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,493 shares of the software maker's stock worth $11,852,000 after buying an additional 2,453 shares during the period. Claro Advisors LLC acquired a new position in shares of Workday during the third quarter worth $255,000. Aaron Wealth Advisors LLC grew its stake in shares of Workday by 55.1% in the third quarter. Aaron Wealth Advisors LLC now owns 1,864 shares of the software maker's stock worth $456,000 after purchasing an additional 662 shares during the last quarter. Generate Investment Management Ltd acquired a new stake in Workday in the third quarter valued at $16,538,000. Finally, Blue Trust Inc. raised its position in Workday by 84.6% during the 3rd quarter. Blue Trust Inc. now owns 3,066 shares of the software maker's stock worth $685,000 after purchasing an additional 1,405 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 1.7 %

NASDAQ:WDAY traded down $4.62 on Wednesday, hitting $261.10. The stock had a trading volume of 2,855,288 shares, compared to its average volume of 2,084,576. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm's fifty day simple moving average is $261.59 and its two-hundred day simple moving average is $252.41. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market cap of $69.45 billion, a P/E ratio of 43.30, a price-to-earnings-growth ratio of 3.51 and a beta of 1.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 5,498 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the sale, the insider now owns 60,000 shares of the company's stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WDAY shares. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and increased their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Scotiabank started coverage on shares of Workday in a research report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price objective for the company. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Finally, Redburn Atlantic began coverage on Workday in a report on Wednesday. They set a "neutral" rating for the company. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $291.11.

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.