Cache Advisors LLC Buys New Holdings in Workday, Inc. (NASDAQ:WDAY)

Cache Advisors LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,028 shares of the software maker's stock, valued at approximately $1,039,000.

A number of other hedge funds also recently made changes to their positions in WDAY. Bristlecone Advisors LLC increased its holdings in Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after purchasing an additional 968 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in Workday in the fourth quarter worth approximately $369,000. Smith Group Asset Management LLC increased its holdings 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 worth $28,129,000 after purchasing an additional 9,324 shares in the last quarter. Swedbank AB increased its holdings in Workday by 17.7% in the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker's stock worth $25,165,000 after purchasing an additional 14,682 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Workday in the fourth quarter worth approximately $8,984,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $0.60 during trading on Wednesday, reaching $239.90. 2,716,746 shares of the stock traded hands, compared to its average volume of 2,552,553. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The stock has a market capitalization of $63.81 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The company has a 50-day moving average of $242.06 and a 200-day moving average of $253.96.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WDAY. Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Jefferies Financial Group reduced their price objective 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, Royal Bank of Canada reissued an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research note on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $293.54.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction 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. This represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction dated 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 transaction, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 in the last ninety days. 20.00% of the stock is currently owned by insiders.

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.