Charles Schwab Investment Management Inc. Buys 524,799 Shares of Workday, Inc. (NASDAQ:WDAY)

Charles Schwab Investment Management Inc. raised its stake in Workday, Inc. (NASDAQ:WDAY) by 62.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,360,002 shares of the software maker’s stock after purchasing an additional 524,799 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.51% of Workday worth $350,921,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Workday by 12.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,228 shares of the software maker’s stock valued at $4,700,000 after purchasing an additional 2,076 shares during the period. Asset Management One Co. Ltd. raised its stake in Workday by 1.6% in the third quarter. Asset Management One Co. Ltd. now owns 78,699 shares of the software maker’s stock valued at $19,235,000 after buying an additional 1,274 shares during the period. QRG Capital Management Inc. raised its stake in Workday by 14.4% in the third quarter. QRG Capital Management Inc. now owns 7,170 shares of the software maker’s stock valued at $1,752,000 after buying an additional 905 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in shares of Workday in the third quarter valued at approximately $307,000. Finally, Crestwood Advisors Group LLC boosted its stake in shares of Workday by 1.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,486 shares of the software maker’s stock worth $852,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $259.61 on Thursday. Workday, Inc. has a twelve month low of $199.81 and a twelve month 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. The stock’s 50-day simple moving average is $258.98 and its 200 day simple moving average is $255.49. The firm has a market capitalization of $69.06 billion, a PE ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

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

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WDAY has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Bank of America cut their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Redburn Atlantic began coverage on shares of Workday in a report on Wednesday, February 19th. They set a “neutral” rating for the company. The Goldman Sachs Group increased their price target on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, StockNews.com cut 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

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.