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

Mirova lifted its position in Workday, Inc. (NASDAQ:WDAY) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,242 shares of the software maker’s stock after purchasing an additional 729 shares during the quarter. Workday makes up 0.9% of Mirova’s investment portfolio, making the stock its 27th biggest holding. Mirova’s holdings in Workday were worth $5,481,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WDAY. Virtu Financial LLC purchased a new position in shares of Workday during the third quarter worth approximately $2,289,000. Anchor Investment Management LLC grew its position in Workday by 6.1% during the 3rd quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker’s stock worth $1,552,000 after purchasing an additional 368 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Workday in the third quarter valued at about $4,893,000. Tidal Investments LLC boosted its stake in shares of Workday by 43.8% during the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker’s stock worth $3,311,000 after buying an additional 4,128 shares during the period. Finally, Synovus Financial Corp increased its position in Workday by 5.7% in the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker’s stock valued at $4,788,000 after acquiring an additional 1,051 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. This trade represents a 44.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 over the last quarter. 20.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on WDAY. Loop Capital lifted their target price on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Jefferies Financial Group cut their price objective on shares of Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research report on Monday, March 31st. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Redburn Atlantic started coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Ten investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $296.25.

Workday Price Performance

NASDAQ:WDAY opened at $221.02 on Friday. The firm has a market cap of $58.79 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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’s 50-day moving average is $244.00 and its two-hundred day moving average is $252.29.

Workday (NASDAQ:WDAY) last announced 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 firm 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%. Research analysts expect that Workday, Inc. will post 2.63 EPS 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.