Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 91.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,144 shares of the software maker's stock after buying an additional 2,932 shares during the quarter. Plato Investment Management Ltd's holdings in Workday were worth $1,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC boosted its position in shares of Workday by 4.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker's stock valued at $281,000 after acquiring an additional 43 shares during the last quarter. Diversified Trust Co grew its stake in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker's stock valued at $1,080,000 after buying an additional 47 shares during the period. Opal Wealth Advisors LLC increased its holdings in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock worth $231,000 after buying an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock worth $324,000 after buying an additional 48 shares during the last quarter. Finally, Aspen Investment Management Inc lifted its holdings in Workday by 3.1% in the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker's stock valued at $369,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Performance

Workday stock traded down $12.08 during midday trading on Friday, hitting $259.41. 2,035,742 shares of the company's stock were exchanged, compared to its average volume of 2,103,628. The stock has a market cap of $68.74 billion, a price-to-earnings ratio of 46.07, a price-to-earnings-growth ratio of 5.49 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm's 50 day simple moving average is $246.64 and its 200 day simple moving average is $236.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WDAY shares. 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. Stifel Nicolaus boosted their price target on shares of Workday from $250.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 23rd. Loop Capital raised their price objective on shares of Workday from $255.00 to $270.00 and gave the company a "hold" rating in a research note on Thursday. DA Davidson upped their target price 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. Finally, Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a "neutral" rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $287.59.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares of the company's stock, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares of the company's stock, valued at $25,381,200. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. 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.