Workday, Inc. (NASDAQ:WDAY) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 22.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,344 shares of the software maker’s stock after purchasing an additional 804 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Workday were worth $1,142,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC raised 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 purchasing an additional 480,459 shares during the period. State Street Corp increased its stake 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 buying an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock worth $687,237,000 after acquiring an additional 136,211 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Oppenheimer upped their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank reduced their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Finally, Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday 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 transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $234.53 on Wednesday. The stock’s fifty day simple moving average is $256.02 and its 200 day simple moving average is $254.58. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 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.