Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,762 shares of the software maker's stock after acquiring an additional 12,284 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Workday were worth $17,227,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WDAY. Janus Henderson Group PLC increased its position in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. State Street Corp boosted its stake in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after buying an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock valued at $566,094,000 after buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock valued at $482,133,000 after buying an additional 75,747 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of WDAY stock opened at $242.93 on Wednesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a market capitalization of $64.62 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $257.71 and a 200-day simple moving average of $255.90.

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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 for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on WDAY. Oppenheimer lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. UBS Group upped their target price on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Citigroup lowered their price target on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and increased their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $302.14.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock worth $113,033,319 in the last three months. 20.00% of the stock is 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.

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