Alliancebernstein L.P. Has $58.77 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Alliancebernstein L.P. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 124.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,752 shares of the software maker’s stock after buying an additional 126,349 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of Workday worth $58,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in Workday in the 3rd quarter valued at $345,000. Hilltop Holdings Inc. bought a new position in shares of Workday in the third quarter valued at about $629,000. Integrated Wealth Concepts LLC lifted its stake in shares of Workday by 8.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,646 shares of the software maker’s stock worth $402,000 after buying an additional 130 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Workday by 3.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 86,490 shares of the software maker’s stock worth $21,139,000 after buying an additional 2,689 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Workday by 204.0% during the 3rd quarter. Quarry LP now owns 830 shares of the software maker’s stock worth $203,000 after buying an additional 557 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 432,441 shares of company stock worth $108,901,692 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WDAY. JPMorgan Chase & Co. upped their target price on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, March 24th. KeyCorp upped their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their price objective 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. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Stock Down 4.9 %

WDAY opened at $217.14 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a market cap of $57.76 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. 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 company has a 50 day moving average of $254.30 and a 200 day moving average of $254.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

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.