New York Life Investment Management LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

New York Life Investment Management LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 697.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,843 shares of the software maker’s stock after buying an additional 27,849 shares during the period. New York Life Investment Management LLC’s holdings in Workday were worth $8,216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC increased its position in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after acquiring an additional 968 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP acquired a new position in shares of Workday in the 3rd quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $260.57 on Friday. The company has a market capitalization of $69.31 billion, a P/E ratio of 43.21, a PEG ratio of 3.55 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $259.89 and a 200 day simple moving average of $254.28. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $298.50.

Workday (NASDAQ:WDAY) last posted 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 net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent analyst reports. Bank of America cut 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. Wells Fargo & Company increased their price target on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday. Canaccord Genuity Group increased their target price on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $302.14.

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.