NEOS Investment Management LLC Purchases 12,923 Shares of Workday, Inc. (NASDAQ:WDAY)

NEOS Investment Management LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 105.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,133 shares of the software maker’s stock after buying an additional 12,923 shares during the period. NEOS Investment Management LLC’s holdings in Workday were worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WDAY. Vanguard Group Inc. boosted 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 buying an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp boosted its position in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC increased its stake in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. Finally, Parnassus Investments LLC raised its position in Workday by 562.2% in the fourth 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 in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDAY shares. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Morgan Stanley cut 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 report on Wednesday, February 19th. Mizuho upped their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Oppenheimer lifted their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Ten equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares in the company, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on 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 directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 487,145 shares of company stock valued at $123,289,438 in the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 2.5 %

NASDAQ:WDAY opened at $244.55 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The business’s 50-day moving average price is $256.89 and its two-hundred day moving average price is $254.93.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share 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 analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities analysts expect that Workday, Inc. will post 2.63 earnings per share 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.