ICICI Prudential Asset Management Co Ltd Has $7.79 Million Stake in Workday, Inc. (NASDAQ:WDAY)

ICICI Prudential Asset Management Co Ltd grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 32.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,878 shares of the software maker's stock after acquiring an additional 7,802 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in Workday were worth $7,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker's stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Van ECK Associates Corp raised its stake in Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker's stock worth $208,068,000 after acquiring an additional 925,366 shares during the period. Vanguard Group Inc. lifted its holdings in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker's stock worth $4,029,244,000 after acquiring an additional 324,540 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker's stock valued at $115,804,000 after acquiring an additional 312,500 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker's stock valued at $703,000 after purchasing an additional 284,266 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Stock Up 2.3 %

WDAY traded up $6.19 on Wednesday, reaching $276.51. 2,746,798 shares of the company traded hands, compared to its average volume of 2,105,853. The company has a market cap of $73.28 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 5.37 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock's 50 day moving average price is $245.97 and its 200-day moving average price is $235.99. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same period in the previous year, the company posted $0.40 EPS. Workday's revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WDAY shares. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. Evercore ISI cut their price target on Workday from $300.00 to $290.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC decreased their price objective on Workday from $350.00 to $300.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. BMO Capital Markets reiterated an "outperform" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Workday from $265.00 to $275.00 and gave the company a "hold" rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.04.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company's stock, valued at $125,032,950. The trade was a 0.00 % decrease in their position. The transaction 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 66,492 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 in the last three months. 20.00% of the stock is owned by 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.