Victory Capital Management Inc. Buys 5,912 Shares of Workday, Inc. (NASDAQ:WDAY)

Victory Capital Management Inc. raised its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,149 shares of the software maker's stock after buying an additional 5,912 shares during the period. Victory Capital Management Inc. owned about 0.06% of Workday worth $42,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Roxbury Financial LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of Workday in the third quarter valued at approximately $26,000. Crews Bank & Trust acquired a new position in shares of Workday in the fourth quarter valued at approximately $26,000. Avion Wealth grew its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Activity at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company's stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares of the company's stock, valued at approximately $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group increased their price target on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley downgraded Workday from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price target on Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Bank of America reduced their price target on Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Finally, Loop Capital increased their price target on Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, February 19th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.14.

Workday Stock Down 0.0 %

WDAY traded down $0.07 during midday trading on Tuesday, reaching $242.93. 2,838,178 shares of the company were exchanged, compared to its average volume of 2,423,337. The company has a market cap of $64.62 billion, a price-to-earnings ratio of 40.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company's fifty day moving average price is $257.71 and its 200 day moving average price is $255.90. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

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.