Keystone Investors PTE Ltd. Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Keystone Investors PTE Ltd. bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel.com reports. The fund bought 6,157 shares of the software maker’s stock, valued at approximately $1,589,000.

Several other large investors have also modified their holdings of the stock. Roxbury Financial LLC purchased a new stake in Workday during the fourth quarter valued at about $25,000. Crews Bank & Trust acquired a new position in Workday during the fourth quarter valued at approximately $26,000. Avion Wealth grew its position in 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 acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new position in shares of Workday in the fourth quarter valued at $35,000. Finally, True Wealth Design LLC raised its stake in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $249.91 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $66.48 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a 50-day simple moving average of $256.83 and a 200 day simple moving average of $255.05.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Loop Capital upped their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Wells Fargo & Company lifted their target price on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Redburn Atlantic began coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.36.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,001 shares of company stock valued at $105,735,200. 20.00% of the stock is currently owned by company 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.