Workday, Inc. (NASDAQ:WDAY) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 13.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,680 shares of the software maker’s stock after buying an additional 550 shares during the period. New England Research & Management Inc.’s holdings in Workday were worth $1,144,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. Sustainable Growth Advisers LP increased its holdings in shares of Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. Evercore ISI dropped their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Citigroup decreased their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Trading Down 2.8 %

Workday stock traded down $6.88 during trading on Monday, reaching $235.47. The company had a trading volume of 2,084,048 shares, compared to its average volume of 2,179,758. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s 50 day moving average price is $240.30 and its two-hundred day moving average price is $240.05. The firm has a market capitalization of $62.40 billion, a price-to-earnings ratio of 42.51, a PEG ratio of 4.71 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $229.32, for a total value of $12,841,920.00. Following the transaction, the insider now owns 562,000 shares in the company, valued at approximately $128,877,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,613 shares of company stock valued at $76,348,820 in the last three months. Corporate insiders own 20.00% of the company’s stock.

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.