Sawgrass Asset Management LLC Purchases Shares of 43,302 Workday, Inc. (NASDAQ:WDAY)

Sawgrass Asset Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,302 shares of the software maker’s stock, valued at approximately $11,173,000. Workday makes up about 1.2% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marcum Wealth LLC increased its stake in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares in the last quarter. Finally, Opal Wealth Advisors LLC increased its position in shares of Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WDAY shares. Morgan Stanley boosted their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Bank of America decreased their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Citigroup cut their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $257.92 on Thursday. The company’s fifty day moving average price is $262.57 and its 200-day moving average price is $251.13. The firm has a market capitalization of $68.61 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 3.78 and a beta of 1.35. 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 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

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.