Harvest Fund Management Co. Ltd Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Harvest Fund Management Co. Ltd lifted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 27.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,536 shares of the software maker's stock after purchasing an additional 2,725 shares during the period. Harvest Fund Management Co. Ltd's holdings in Workday were worth $3,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Vinva Investment Management Ltd lifted its holdings in Workday by 9.8% during the fourth quarter. Vinva Investment Management Ltd now owns 3,441 shares of the software maker's stock worth $902,000 after buying an additional 307 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Workday by 81.3% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,148 shares of the software maker's stock worth $1,619,000 after purchasing an additional 2,756 shares during the last quarter. Xponance Inc. boosted its position in Workday by 32.0% during the fourth quarter. Xponance Inc. now owns 48,648 shares of the software maker's stock valued at $12,553,000 after purchasing an additional 11,795 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Workday during the fourth quarter valued at about $3,652,000. Finally, Horizon Investments LLC grew its stake in Workday by 20.4% in the fourth quarter. Horizon Investments LLC now owns 3,149 shares of the software maker's stock valued at $813,000 after purchasing an additional 534 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Remove Ads

Workday Price Performance

WDAY traded down $0.98 during trading on Friday, reaching $249.49. The company's stock had a trading volume of 2,831,817 shares, compared to its average volume of 2,429,207. The company has a market cap of $66.36 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 3.55 and a beta of 1.38. The firm has a fifty day simple moving average of $256.76 and a two-hundred day simple moving average of $255.11. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. KeyCorp lifted their price target on shares of Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, February 26th. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research report on Wednesday, February 26th. Ten 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $300.36.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $265.70, for a total value of $14,879,200.00. Following the sale, the insider now directly owns 228,000 shares of the company's stock, valued at $60,579,600. The trade was a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 473,001 shares of company stock valued at $120,614,400. 20.00% of the stock is currently owned by insiders.

Workday Company 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.