Xponance Inc. Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Xponance Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 32.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,648 shares of the software maker’s stock after buying an additional 11,795 shares during the period. Xponance Inc.’s holdings in Workday were worth $12,553,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WDAY. Janus Henderson Group PLC increased its stake in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. State Street Corp increased its stake in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC increased its stake in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Parnassus Investments LLC increased its stake in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after purchasing an additional 14,159 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 473,001 shares of company stock valued at $120,614,400 over the last three months. 20.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on WDAY. UBS Group raised their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Royal Bank of Canada increased their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their target price on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Workday Price Performance

Shares of Workday stock opened at $251.91 on Wednesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a PEG 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 business’s fifty day moving average price is $256.89 and its 200 day moving average price is $255.30.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current 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.