Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in Workday, Inc. (NASDAQ:WDAY) by 91.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,144 shares of the software maker’s stock after purchasing an additional 2,932 shares during the period. Plato Investment Management Ltd’s holdings in Workday were worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Finally, Meritage Group LP boosted its stake in shares of Workday by 27.5% in the first quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after buying an additional 275,883 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

NASDAQ:WDAY opened at $271.49 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. 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 cap of $71.94 billion, a PE ratio of 47.30, a P/E/G ratio of 5.49 and a beta of 1.35. The stock has a 50 day moving average price of $246.33 and a 200 day moving average price of $236.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WDAY shares. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. The Goldman Sachs Group upped their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft upped their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. BMO Capital Markets restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Finally, KeyCorp increased their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by insiders.

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.