Workday, Inc. (NASDAQ:WDAY) Shares Bought by Pitcairn Co.

Pitcairn Co. raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,337 shares of the software maker’s stock after purchasing an additional 300 shares during the quarter. Pitcairn Co.’s holdings in Workday were worth $3,699,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Simplicity Wealth LLC increased its holdings in shares of Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares during the period. Marcum Wealth LLC raised its stake in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Custom Index Systems LLC grew its stake in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after purchasing an additional 41 shares during the last quarter. AllSquare Wealth Management LLC lifted its holdings in shares of Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after purchasing an additional 41 shares during the period. Finally, Ashton Thomas Securities LLC grew its position in Workday by 3.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock valued at $385,000 after buying an additional 46 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 429,316 shares of company stock worth $108,168,536. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $235.39 on Thursday. The business has a 50-day moving average of $255.66 and a two-hundred day moving average of $254.45. The firm has a market capitalization of $62.61 billion, a PE ratio of 39.04, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last posted 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 analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on WDAY. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Scotiabank lowered their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Royal Bank of Canada raised their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

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.