ABC Arbitrage SA Invests $1.40 Million in Workday, Inc. (NASDAQ:WDAY)

ABC Arbitrage SA bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,415 shares of the software maker’s stock, valued at approximately $1,397,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WDAY. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Workday by 5.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,493 shares of the software maker’s stock worth $11,852,000 after acquiring an additional 2,453 shares during the period. Claro Advisors LLC bought a new position in Workday during the third quarter worth $255,000. Aaron Wealth Advisors LLC increased its position in Workday by 55.1% during the third quarter. Aaron Wealth Advisors LLC now owns 1,864 shares of the software maker’s stock worth $456,000 after acquiring an additional 662 shares during the period. Generate Investment Management Ltd bought a new position in Workday during the third quarter worth $16,538,000. Finally, Blue Trust Inc. increased its holdings in Workday by 84.6% in the 3rd quarter. Blue Trust Inc. now owns 3,066 shares of the software maker’s stock valued at $685,000 after buying an additional 1,405 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.8 %

Shares of NASDAQ WDAY opened at $258.05 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The firm’s 50-day simple moving average is $262.13 and its 200 day simple moving average is $251.46.

Workday (NASDAQ:WDAY) last released its earnings results 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 for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of several analyst reports. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company boosted their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Scotiabank initiated coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Finally, StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $292.43.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was 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 directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company’s stock.

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.