Ameriprise Financial Inc. Acquires 30,697 Shares of Workday, Inc. (NASDAQ:WDAY)

Ameriprise Financial Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 273,927 shares of the software maker’s stock after purchasing an additional 30,697 shares during the period. Ameriprise Financial Inc. owned 0.10% of Workday worth $70,689,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aptus Capital Advisors LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $235,000. Advanced Portfolio Management LLC bought a new position in Workday during the 4th quarter worth approximately $770,000. Alight Capital Management LP bought a new stake in shares of Workday in the 4th quarter valued at $3,999,000. Meiji Yasuda Life Insurance Co raised its stake in Workday by 13.1% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,123 shares of the software maker’s stock worth $290,000 after buying an additional 130 shares during the last quarter. Finally, Third Point LLC bought a new stake in Workday during the fourth quarter valued at $129,015,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WDAY shares. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. Mizuho reduced their price objective on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. DA Davidson dropped their target price on shares of Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Daiwa America raised shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $293.62.

Workday Stock Up 0.4 %

Workday stock opened at $259.01 on Friday. The firm has a market capitalization of $68.90 billion, a price-to-earnings ratio of 42.95, a P/E/G ratio of 3.55 and a beta of 1.30. The firm has a 50 day simple moving average of $238.49 and a 200 day simple moving average of $252.15. Workday, Inc. has a 1-year low of $199.81 and a 1-year 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.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 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 the consensus estimate of $2.18 billion. On average, analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

About Workday

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.