Workday, Inc. (NASDAQ:WDAY) Shares Bought by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC grew its position in Workday, Inc. (NASDAQ:WDAY) by 42.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,288 shares of the software maker’s stock after purchasing an additional 70,755 shares during the period. Douglas Lane & Associates LLC’s holdings in Workday were worth $61,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WDAY. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Two Sigma Advisers LP increased its position in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Workday during the 3rd quarter valued at $78,003,000. Finally, D1 Capital Partners L.P. lifted its holdings in shares of Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,085 shares of company stock valued at $95,380,557 over the last three months. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. StockNews.com raised Workday from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company upped their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Stock Performance

WDAY traded up $5.83 on Wednesday, hitting $255.51. 1,243,969 shares of the company’s stock were exchanged, compared to its average volume of 1,763,121. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $261.60 and a two-hundred day moving average of $245.37. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market cap of $67.97 billion, a PE ratio of 42.37, a P/E/G ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts anticipate that Workday, Inc. will post 2.58 earnings per share for the current fiscal 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.