Edgestream Partners L.P. Buys 4,639 Shares of Workday, Inc. (NASDAQ:WDAY)

Edgestream Partners L.P. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,363 shares of the software maker’s stock after acquiring an additional 4,639 shares during the quarter. Edgestream Partners L.P.’s holdings in Workday were worth $4,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after buying an additional 925,366 shares during the period. Vanguard Group Inc. raised its stake in shares of Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after acquiring an additional 437,215 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of Workday during the fourth quarter valued at about $85,994,000. Sustainable Growth Advisers LP increased its holdings in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the period. Finally, Clearbridge Investments LLC raised its position in Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY opened at $248.12 on Wednesday. The company’s 50-day simple moving average is $236.20 and its two-hundred day simple moving average is $242.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $65.75 billion, a P/E ratio of 44.71, a P/E/G ratio of 5.40 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, analysts predict that Workday, Inc. will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WDAY shares. The Goldman Sachs Group cut their price objective on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Oppenheimer decreased their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Guggenheim reaffirmed a “sell” rating and set a $190.00 target price on shares of Workday in a research note on Tuesday, June 25th. Sanford C. Bernstein decreased their price target on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $350.00 price objective on shares of Workday in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average price target of $288.15.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 466,402 shares of company stock valued at $107,992,034. 20.00% of the stock is owned by company insiders.

Workday 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.