Prudential PLC Purchases 1,047 Shares of Workday, Inc. (NASDAQ:WDAY)

Prudential PLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,081 shares of the software maker’s stock after buying an additional 1,047 shares during the period. Prudential PLC’s holdings in Workday were worth $8,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. State Street Corp boosted its stake in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Workday by 5.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after acquiring an additional 136,211 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Workday in the 4th quarter valued at approximately $645,710,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 432,441 shares of company stock worth $108,901,692. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several analyst reports. UBS Group increased their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, March 24th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler upped their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Scotiabank dropped their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.18.

Workday Stock Performance

Workday stock opened at $217.14 on Friday. The stock has a 50-day simple moving average of $254.30 and a 200 day simple moving average of $254.04. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

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