Workday, Inc. (NASDAQ:WDAY) Stock Position Lifted by West Oak Capital LLC

West Oak Capital LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 17,182.1% during the 4th quarter, Holdings Channel reports. The firm owned 24,195 shares of the software maker’s stock after acquiring an additional 24,055 shares during the period. Workday makes up about 1.9% of West Oak Capital LLC’s investment portfolio, making the stock its 9th largest holding. West Oak Capital LLC’s holdings in Workday were worth $6,243,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WDAY. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 79.1% during the 2nd 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 last quarter. Two Sigma Advisers LP lifted its position in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Workday by 10.7% during 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 buying an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Workday during the 3rd quarter valued at $78,003,000. Finally, D1 Capital Partners L.P. lifted its position 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 buying an additional 312,500 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock traded down $4.98 during trading on Friday, reaching $249.71. The company had a trading volume of 2,011,323 shares, compared to its average volume of 1,978,437. The firm’s 50-day simple moving average is $262.35 and its 200 day simple moving average is $245.50. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

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

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the 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 of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,347 shares of company stock worth $112,778,463. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WDAY shares. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Loop Capital decreased their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley upped their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.25.

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.