Geode Capital Management LLC Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Geode Capital Management LLC grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 61.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,637,387 shares of the software maker's stock after purchasing an additional 1,772,223 shares during the quarter. Geode Capital Management LLC owned about 1.74% of Workday worth $1,193,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Simplicity Wealth LLC boosted its stake in Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after purchasing an additional 37 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after buying an additional 41 shares during the period. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after buying an additional 41 shares during the last quarter. AllSquare Wealth Management LLC increased its position in shares of Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after acquiring an additional 41 shares during the period. Finally, Ashton Thomas Securities LLC raised its stake in Workday by 3.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock worth $385,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WDAY shares. Oppenheimer increased their price objective on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Monday, March 24th. UBS Group upped their price objective on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Loop Capital boosted their target price on shares of Workday from $242.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday, February 19th. Finally, KeyCorp increased 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 given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $300.18.

Workday Trading Down 3.0 %

Shares of NASDAQ WDAY traded down $7.06 during mid-day trading on Thursday, reaching $228.33. 5,081,430 shares of the company's stock were exchanged, compared to its average volume of 2,546,885. The company's 50-day moving average is $255.12 and its 200-day moving average is $254.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $60.74 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Insider Activity

In related news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,316 shares of company stock valued at $108,168,536. 20.00% of the stock is currently 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.