Stevens Capital Management LP Makes New $1.20 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Stevens Capital Management LP acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,646 shares of the software maker's stock, valued at approximately $1,199,000.

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Janus Henderson Group PLC lifted its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp raised its stake in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after buying an additional 76,618 shares during the period. Parnassus Investments LLC boosted its position in Workday by 562.2% during the 4th 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock valued at $566,094,000 after acquiring an additional 14,159 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Workday Price Performance

Shares of WDAY stock traded down $2.81 during trading hours on Thursday, hitting $247.98. 79,657 shares of the company's stock were exchanged, compared to its average volume of 2,414,934. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a market cap of $65.96 billion, a P/E ratio of 41.17, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $257.01 and a two-hundred day moving average of $255.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share 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 company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In other 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 sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WDAY has been the topic of several analyst reports. Bank of America cut their target price on Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. KeyCorp boosted their price objective on shares of Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Guggenheim restated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. Finally, UBS Group increased their price objective on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $300.36.

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.