Workday, Inc. (NASDAQ:WDAY) Stock Position Lifted by Pitcairn Co.

Pitcairn Co. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,337 shares of the software maker’s stock after acquiring an additional 300 shares during the period. Pitcairn Co.’s holdings in Workday were worth $3,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Norges Bank bought a new position in shares of Workday during the fourth quarter valued at approximately $645,710,000. Parnassus Investments LLC raised its position in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Workday during the 4th quarter valued at approximately $194,679,000. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 3,677 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total value of $926,236.30. Following the transaction, the insider now owns 79,576 shares in the company, valued at $20,045,194.40. This represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 429,316 shares of company stock worth $108,168,536. 20.00% of the stock is owned by corporate insiders.

Workday Stock Up 0.4 %

Shares of Workday stock opened at $235.39 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $62.61 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The stock’s fifty day moving average is $255.66 and its 200-day moving average is $254.45.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WDAY shares. Scotiabank dropped their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their price target on shares of Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 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 given a strong buy rating to the company. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

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.