Arrowstreet Capital Limited Partnership Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Arrowstreet Capital Limited Partnership boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 183.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 281,387 shares of the software maker’s stock after purchasing an additional 182,003 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Workday were worth $72,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Crews Bank & Trust acquired a new stake in shares of Workday in the fourth quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter worth approximately $25,000. Avion Wealth grew its position in Workday by 452.6% in the fourth 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 purchased a new stake in shares of Workday during the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 143 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. BNP Paribas upgraded Workday to a “strong-buy” rating in a report on Friday, February 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. This trade represents a 40.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is owned by company insiders.

Workday Stock Down 2.1 %

WDAY stock opened at $233.53 on Tuesday. The stock has a market cap of $62.12 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The firm’s 50-day simple moving average is $256.35 and its 200 day simple moving average is $254.69. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

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.