ABC Arbitrage SA Takes Position in Workday, Inc. (NASDAQ:WDAY)

ABC Arbitrage SA purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, HoldingsChannel reports. The firm purchased 5,415 shares of the software maker’s stock, valued at approximately $1,397,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. Bristlecone Advisors LLC increased its stake in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Trading Down 0.8 %

Shares of Workday stock opened at $258.05 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The business has a fifty day simple moving average of $262.13 and a two-hundred day simple moving average of $251.46. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last 90 days. Company insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WDAY. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group upped their price target on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.43.

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.