Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 27.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,536 shares of the software maker’s stock after purchasing an additional 2,725 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Workday were worth $3,235,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Crews Bank & Trust purchased a new position in Workday during the 4th quarter worth $26,000. Roxbury Financial LLC purchased a new position in Workday during the 4th quarter worth $25,000. Avion Wealth raised its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in Workday during the 4th quarter worth $35,000. Finally, Meeder Asset Management Inc. raised its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 473,001 shares of company stock valued at $120,614,400. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Workday stock opened at $251.91 on Wednesday. The firm’s 50-day moving average is $256.89 and its two-hundred day moving average is $255.30. 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. The stock has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its earnings results 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 during the quarter, compared to analyst estimates of $2.18 billion. Equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Loop Capital increased their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Guggenheim reiterated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $300.36.

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.