Sawgrass Asset Management LLC Purchases New Position in Workday, Inc. (NASDAQ:WDAY)

Sawgrass Asset Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,302 shares of the software maker’s stock, valued at approximately $11,173,000. Workday comprises 1.2% of Sawgrass Asset Management LLC’s holdings, making the stock its 29th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of WDAY. Capital Performance Advisors LLP acquired a new position in Workday in the 3rd quarter valued at about $26,000. Crews Bank & Trust acquired a new position in shares of Workday during the 4th quarter worth approximately $26,000. Avion Wealth grew its position in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Finally, New Millennium Group LLC grew its position in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last quarter. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $257.92 on Thursday. The firm has a market cap of $68.61 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The firm’s fifty day moving average is $262.57 and its 200-day moving average is $251.13. 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, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Barclays decreased their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Royal Bank of Canada increased their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Scotiabank initiated coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

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.