Pinebridge Investments L.P. Acquires 2,303 Shares of Workday, Inc. (NASDAQ:WDAY)

Pinebridge Investments L.P. raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,008 shares of the software maker’s stock after acquiring an additional 2,303 shares during the quarter. Pinebridge Investments L.P.’s holdings in Workday were worth $9,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Norges Bank purchased a new position in shares of Workday during the fourth quarter valued at $645,710,000. Parnassus Investments LLC raised its holdings in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC grew its holdings in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Finally, Invesco Ltd. increased its position in Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker’s stock valued at $478,846,000 after purchasing an additional 939,955 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,724 shares of company stock worth $77,976,126. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, March 24th. Royal Bank of Canada boosted their price target on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Workday from $360.00 to $325.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten investment 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.86.

Workday Stock Up 5.3 %

Workday stock opened at $236.87 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a market cap of $63.01 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The business’s 50-day moving average price is $241.26 and its 200 day moving average price is $251.77. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.