New York Life Investment Management LLC Has $8.22 Million Stake in Workday, Inc. (NASDAQ:WDAY)

New York Life Investment Management LLC lifted its position in Workday, Inc. (NASDAQ:WDAY) by 697.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,843 shares of the software maker’s stock after purchasing an additional 27,849 shares during the quarter. New York Life Investment Management LLC’s holdings in Workday were worth $8,216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Crews Bank & Trust bought a new position in shares of Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC acquired a new position in Workday in the fourth quarter valued at about $25,000. Avion Wealth boosted its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Workday in the 3rd quarter valued at $26,000. Finally, Meeder Asset Management Inc. grew its stake in 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 acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WDAY. Royal Bank of Canada upped their price target on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research note on Wednesday. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Finally, Bank of America decreased their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the transaction, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’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 transaction, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is owned by insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $260.57 on Friday. 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 stock’s fifty day moving average is $259.89 and its 200 day moving average is $254.28. The firm has a market capitalization of $69.31 billion, a PE ratio of 43.21, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $298.50.

Workday (NASDAQ:WDAY) last announced its quarterly 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). The firm 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%. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.