Brown Brothers Harriman & Co. Purchases 1,974 Shares of Workday, Inc. (NASDAQ:WDAY)

Brown Brothers Harriman & Co. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 316.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,598 shares of the software maker’s stock after acquiring an additional 1,974 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Workday were worth $670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Roxbury Financial LLC bought a new position in Workday in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of Workday during the 4th quarter worth about $26,000. Avion Wealth grew its holdings in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC raised its holdings in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on WDAY shares. Mizuho boosted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup lowered their target price 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. Stifel Nicolaus increased their price target on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Royal Bank of Canada boosted their price objective on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Scotiabank cut their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $300.36.

Workday Stock Down 2.5 %

Shares of NASDAQ WDAY opened at $238.49 on Monday. The stock has a market capitalization of $63.44 billion, a P/E ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. The stock’s fifty day moving average is $256.67 and its 200 day moving average is $254.82. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares in the company, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 431,145 shares of company stock worth $108,631,438 over the last three months. Corporate insiders own 20.00% of the company’s stock.

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.