Ramirez Asset Management Inc. Invests $155,000 in Workday, Inc. (NASDAQ:WDAY)

Ramirez Asset Management Inc. acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 600 shares of the software maker’s stock, valued at approximately $155,000.

Several other institutional investors also recently modified their holdings of the stock. Roxbury Financial LLC bought a new stake in Workday in the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in Workday during the fourth quarter worth $26,000. Avion Wealth lifted its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC bought a new stake in Workday during the fourth quarter valued at $35,000. Finally, True Wealth Design LLC grew its holdings in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,144 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. The trade was a 40.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,677 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total value of $926,236.30. Following the sale, the insider now owns 79,576 shares of the company’s stock, valued at approximately $20,045,194.40. This represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 over the last quarter. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. KeyCorp upped their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Finally, JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $300.36.

Workday Stock Down 2.5 %

Shares of WDAY stock opened at $244.55 on Friday. 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 simple moving average of $256.89 and a two-hundred day simple moving average of $254.93. The stock has a market cap of $65.05 billion, a P/E ratio of 40.56, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last released 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). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts expect 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.