T. Rowe Price Investment Management Inc. Takes Position in Workday, Inc. (NASDAQ:WDAY)

T. Rowe Price Investment Management Inc. bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,552,939 shares of the software maker's stock, valued at approximately $658,735,000. T. Rowe Price Investment Management Inc. owned approximately 0.96% of Workday as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bristlecone Advisors LLC grew its position in shares of Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of Workday during the fourth quarter worth about $369,000. Principal Financial Group Inc. increased its position in shares of Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after purchasing an additional 5,519 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its stake in Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock valued at $28,129,000 after purchasing an additional 9,324 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 0.4 %

Shares of NASDAQ WDAY traded down $1.06 during trading on Monday, reaching $238.48. The company had a trading volume of 248,854 shares, compared to its average volume of 2,619,014. The business's 50-day moving average is $240.73 and its 200 day moving average is $251.90. The stock has a market cap of $63.43 billion, a PE ratio of 39.54, a P/E/G 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 quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the 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 completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 in the last three months. 20.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WDAY. Royal Bank of Canada boosted their target price on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and increased their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. UBS Group boosted their price target on shares of Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their target price on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $292.86.

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.