OV Management LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

OV Management LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,110 shares of the software maker’s stock after purchasing an additional 343 shares during the quarter. OV Management LLC’s holdings in Workday were worth $1,577,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp increased its position in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its stake in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Workday by 5.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after purchasing an additional 136,211 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WDAY. BMO Capital Markets lifted their price target on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Stifel Nicolaus lifted their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Monday, March 24th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $300.18.

Workday Stock Performance

Workday stock opened at $233.53 on Tuesday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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 $62.12 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The firm’s fifty day moving average price is $256.35 and its 200 day moving average price is $254.69.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by insiders.

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.