Workday, Inc. (NASDAQ:WDAY) is Fernbridge Capital Management LP's 3rd Largest Position

Fernbridge Capital Management LP increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 81.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 761,296 shares of the software maker's stock after acquiring an additional 341,918 shares during the period. Workday makes up about 10.3% of Fernbridge Capital Management LP's holdings, making the stock its 3rd biggest position. Fernbridge Capital Management LP owned 0.29% of Workday worth $196,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WDAY. Virtu Financial LLC purchased a new position in shares of Workday during the third quarter worth about $2,289,000. Anchor Investment Management LLC grew its stake in Workday by 6.1% in the 3rd quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker's stock worth $1,552,000 after buying an additional 368 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Workday in the 3rd quarter worth $4,893,000. Tidal Investments LLC raised its position in shares of Workday by 43.8% during the 3rd quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock valued at $3,311,000 after buying an additional 4,128 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Workday by 5.7% in the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock worth $4,788,000 after acquiring an additional 1,051 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Up 1.1 %

Shares of NASDAQ:WDAY opened at $239.53 on Friday. The firm has a market capitalization of $63.71 billion, a P/E ratio of 39.72, a P/E/G ratio of 3.55 and a beta of 1.32. 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 stock has a 50 day moving average price of $240.73 and a 200-day moving average price of $251.85. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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 (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 firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock valued at $77,976,126 over the last quarter. Corporate insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WDAY. JMP Securities reiterated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Mizuho lowered their price objective on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Loop Capital increased their target price on shares of Workday from $242.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.86.

About Workday

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.

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