Vanguard Group Inc. Buys 4,517,272 Shares of Workday, Inc. (NASDAQ:WDAY)

Vanguard Group Inc. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 28.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,142,800 shares of the software maker's stock after acquiring an additional 4,517,272 shares during the period. Vanguard Group Inc. owned 7.57% of Workday worth $5,197,447,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of Workday by 10.7% during 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 purchasing an additional 480,459 shares during the period. State Street Corp grew its position in shares of Workday by 1.4% during the 3rd 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 during the period. Geode Capital Management LLC increased its stake in shares of Workday by 2.7% in the 3rd 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 last quarter. Parnassus Investments LLC raised its position in shares of Workday by 562.2% in 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 during the period. Finally, The Manufacturers Life Insurance Company raised its position 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. Institutional investors own 89.81% of the company's stock.

Remove Ads

Workday Stock Performance

Shares of WDAY stock traded up $2.92 on Tuesday, hitting $252.83. The company's stock had a trading volume of 1,176,580 shares, compared to its average volume of 2,430,541. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market capitalization of $67.25 billion, a PE ratio of 41.93, a PEG ratio of 3.55 and a beta of 1.38. The stock's 50 day moving average is $256.83 and its 200-day moving average is $255.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Stifel Nicolaus lifted their target price on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. UBS Group increased their price target on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.36.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares in the company, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the company'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 sale, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,001 shares of company stock worth $105,735,200 in the last 90 days. Company insiders own 20.00% of the company's stock.

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.