Arrowstreet Capital Limited Partnership Buys 182,003 Shares of Workday, Inc. (NASDAQ:WDAY)

Arrowstreet Capital Limited Partnership boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 183.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 281,387 shares of the software maker's stock after buying an additional 182,003 shares during the period. Arrowstreet Capital Limited Partnership owned 0.11% of Workday worth $72,606,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Captrust Financial Advisors boosted its position in shares of Workday by 24.2% during the third quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker's stock valued at $3,141,000 after purchasing an additional 2,506 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of Workday during the 3rd quarter valued at $56,000. Wasatch Advisors LP grew its position in shares of Workday by 69.4% in the 3rd quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker's stock worth $2,856,000 after buying an additional 4,787 shares during the period. True Wealth Design LLC grew its position in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock worth $36,000 after buying an additional 143 shares during the period. Finally, Erste Asset Management GmbH bought a new position in shares of Workday in the 3rd quarter worth about $8,092,000. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDAY shares. Oppenheimer upped their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Wells Fargo & Company upped their price target on Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. BNP Paribas raised Workday to a "strong-buy" rating in a research note on Friday, February 14th. Finally, KeyCorp lifted their price target on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $300.18.

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Workday Stock Performance

WDAY traded down $11.19 during trading on Friday, hitting $217.14. The company's stock had a trading volume of 4,893,624 shares, compared to its average volume of 2,564,908. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The business's 50 day simple moving average is $254.30 and its 200-day simple moving average is $254.09. 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 market cap of $57.76 billion, a PE ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the completion of the sale, the insider now owns 116,000 shares in the company, valued at approximately $29,448,920. This trade represents a 32.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,441 shares of company stock valued at $108,901,692. 20.00% of the stock is owned by corporate insiders.

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.