Adage Capital Partners GP L.L.C. Has $40.38 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Adage Capital Partners GP L.L.C. lifted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,986.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,500 shares of the software maker's stock after buying an additional 149,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Workday worth $40,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Workday during the fourth quarter worth about $658,735,000. Norges Bank bought a new position in shares of Workday in the fourth quarter worth about $645,710,000. Parnassus Investments LLC boosted its stake in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, DA Davidson decreased their price target on shares of Workday from $270.00 to $230.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $292.86.

Workday Stock Performance

WDAY traded down $0.91 during trading hours on Wednesday, hitting $242.48. 440,757 shares of the stock were exchanged, compared to its average volume of 2,608,764. The stock has a market cap of $64.50 billion, a price-to-earnings ratio of 40.21, 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 stock has a 50-day simple moving average of $239.94 and a 200-day simple moving average of $251.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last released 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). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is owned by corporate insiders.

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.