Federated Hermes Inc. Purchases 89,039 Shares of Workday, Inc. (NASDAQ:WDAY)

Federated Hermes Inc. increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 25.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 439,512 shares of the software maker’s stock after buying an additional 89,039 shares during the period. Federated Hermes Inc.’s holdings in Workday were worth $121,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vontobel Holding Ltd. increased its position in shares of Workday by 5.1% during the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after purchasing an additional 3,260 shares during the period. Morgan Stanley grew its position in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the period. QRG Capital Management Inc. bought a new stake in Workday in the third quarter valued at $345,000. Assenagon Asset Management S.A. grew its position in Workday by 58.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock valued at $76,902,000 after acquiring an additional 103,171 shares during the period. Finally, Mariner LLC grew its position in Workday by 21.1% in the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock valued at $6,081,000 after acquiring an additional 4,927 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WDAY. Barclays lowered their price target on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. BMO Capital Markets boosted their price objective on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Evercore ISI boosted their price objective on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus boosted their price objective on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Finally, UBS Group reduced their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 in the last 90 days. Company insiders own 21.09% of the company’s stock.

Workday Price Performance

Workday stock traded up $0.25 during mid-day trading on Thursday, reaching $257.27. 451,144 shares of the company were exchanged, compared to its average volume of 1,769,088. The company has a fifty day simple moving average of $280.10 and a 200-day simple moving average of $262.03. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $67.92 billion, a PE ratio of 49.91, a PEG ratio of 6.44 and a beta of 1.32.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the company earned ($0.14) EPS. The company’s revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

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.