Xponance Inc. Buys 11,795 Shares of Workday, Inc. (NASDAQ:WDAY)

Xponance Inc. grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 32.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,648 shares of the software maker's stock after acquiring an additional 11,795 shares during the quarter. Xponance Inc.'s holdings in Workday were worth $12,553,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Roxbury Financial LLC bought a new position in shares of Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new position in shares of Workday during the 4th quarter worth approximately $26,000. Avion Wealth lifted its position in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after buying an additional 43 shares during the period. Finally, TCTC Holdings LLC bought a new position in shares of Workday during the 4th quarter worth approximately $35,000. Institutional investors own 89.81% of the company's stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 71,672 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $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 available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 473,001 shares of company stock worth $120,614,400 over the last three months. Corporate insiders own 20.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on WDAY shares. KeyCorp raised their target price on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Workday from a "hold" rating to a "buy" rating and lifted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Morgan Stanley downgraded Workday from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.36.

Workday Trading Down 0.4 %

WDAY stock traded down $0.98 during midday trading on Friday, hitting $249.49. 2,831,817 shares of the company's stock were exchanged, compared to its average volume of 2,429,207. The stock's fifty day moving average price is $256.76 and its 200-day moving average price is $255.11. 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 company has a market cap of $66.36 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.