Massachusetts Financial Services Co. MA Has $5.71 Million Position in Workday, Inc. (NASDAQ:WDAY)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,532 shares of the software maker’s stock after purchasing an additional 141 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Workday were worth $5,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its position in shares of Workday by 26.8% in the second quarter. Brown Brothers Harriman & Co. now owns 4,791 shares of the software maker’s stock valued at $1,071,000 after acquiring an additional 1,013 shares during the period. Rathbones Group PLC grew its position in Workday by 1.5% in the 2nd quarter. Rathbones Group PLC now owns 38,896 shares of the software maker’s stock worth $8,696,000 after purchasing an additional 559 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Workday by 3.7% during the second quarter. Prime Capital Investment Advisors LLC now owns 18,588 shares of the software maker’s stock valued at $4,156,000 after buying an additional 669 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Workday by 4.1% in the second quarter. Plato Investment Management Ltd now owns 3,212 shares of the software maker’s stock valued at $718,000 after buying an additional 127 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Workday during the second quarter worth about $3,298,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $248.29 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The business has a 50-day moving average price of $237.48 and a two-hundred day moving average price of $242.12.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. Equities analysts predict that Workday, Inc. will post 2.39 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock valued at $109,864,184 over the last three months. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Loop Capital upped their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Barclays raised their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America upped their target price on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $286.48.

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.