Tidal Investments LLC Buys 4,128 Shares of Workday, Inc. (NASDAQ:WDAY)

Tidal Investments LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 43.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,546 shares of the software maker's stock after buying an additional 4,128 shares during the quarter. Tidal Investments LLC's holdings in Workday were worth $3,311,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp raised its holdings in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 purchasing an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 buying an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock worth $482,133,000 after purchasing an additional 75,747 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WDAY shares. The Goldman Sachs Group upped their target price on shares of Workday from $300.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, September 19th. DA Davidson increased their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Friday. Stifel Nicolaus increased their price target on Workday from $250.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Finally, KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.64.

Workday Price Performance

Shares of Workday stock traded down $1.15 during trading on Friday, reaching $273.67. The company's stock had a trading volume of 2,889,102 shares, compared to its average volume of 3,602,782. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market capitalization of $72.80 billion, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The business has a 50 day moving average price of $253.74 and a 200-day moving average price of $238.90. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 earnings per share. Workday's revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock valued at $88,422,088 over the last 90 days. 20.00% of the stock is currently owned by company 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.