Keystone Investors PTE Ltd. Makes New $1.59 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Keystone Investors PTE Ltd. bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,157 shares of the software maker’s stock, valued at approximately $1,589,000.

A number of other hedge funds have also recently made changes to their positions in WDAY. Moors & Cabot Inc. bought a new position in Workday in the third quarter worth approximately $203,000. Cerity Partners LLC lifted its stake in shares of Workday by 7.1% during the 3rd quarter. Cerity Partners LLC now owns 78,595 shares of the software maker’s stock worth $19,209,000 after purchasing an additional 5,189 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares in the last quarter. Swedbank AB raised its holdings in Workday by 2.1% in the third quarter. Swedbank AB now owns 82,847 shares of the software maker’s stock worth $20,249,000 after purchasing an additional 1,668 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Workday by 80.0% in the 3rd quarter. Larson Financial Group LLC now owns 754 shares of the software maker’s stock valued at $184,000 after buying an additional 335 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WDAY shares. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Citigroup reduced their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Mizuho lifted their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Ten research 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 stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Insider Buying and Selling at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 417,001 shares of company stock valued at $105,735,200 in the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $249.91 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $66.48 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38. The stock has a 50 day moving average of $256.83 and a two-hundred day moving average of $255.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY) last issued 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 business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current 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.