Slow Capital Inc. Has $2.73 Million Position in Workday, Inc. (NASDAQ:WDAY)

Slow Capital Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 9,879 shares of the software maker’s stock after buying an additional 176 shares during the quarter. Slow Capital Inc.’s holdings in Workday were worth $2,727,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WDAY. Norges Bank acquired a new stake in shares of Workday in the 4th quarter valued at approximately $600,504,000. Wellington Management Group LLP boosted its position in Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares during the period. Winslow Capital Management LLC boosted its position in Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after buying an additional 1,000,922 shares during the period. Morgan Stanley boosted its position in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after buying an additional 872,288 shares during the period. Finally, Amundi boosted its position in Workday by 233.9% during the 4th quarter. Amundi now owns 766,911 shares of the software maker’s stock worth $125,712,000 after buying an additional 537,196 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now directly owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold a total of 379,691 shares of company stock worth $102,897,729 over the last ninety days. Company insiders own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. TheStreet upgraded shares of Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. UBS Group cut their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Needham & Company LLC lifted their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. BMO Capital Markets raised their price target on shares of Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Finally, Mizuho raised their price target on shares of Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $0.64 during midday trading on Wednesday, reaching $258.33. The company had a trading volume of 443,934 shares, compared to its average volume of 1,775,767. The company’s 50 day moving average price is $280.85 and its 200 day moving average price is $262.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market cap of $68.20 billion, a P/E ratio of 50.04, a P/E/G ratio of 6.49 and a beta of 1.32. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.92 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Workday Company 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.