City National Bank of Florida MSD Purchases Shares of 1,300 Workday, Inc. (NASDAQ:WDAY)

City National Bank of Florida MSD acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,300 shares of the software maker's stock, valued at approximately $335,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after purchasing an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Workday by 1.5% in the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after purchasing an additional 52,104 shares during the last quarter. Finally, FIL Ltd boosted its position in shares of Workday by 6.5% in the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after purchasing an additional 181,899 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. UBS Group increased 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. Wells Fargo & Company lowered their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Scotiabank reduced their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Nine equities research 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's stock. According to MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $293.62.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares of the company's stock, valued at $2,544,814.67. This represents a 22.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42% 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. Corporate insiders own 19.31% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY opened at $268.54 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $71.43 billion, a P/E ratio of 44.53, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The firm has a 50-day moving average price of $242.42 and a two-hundred day moving average price of $254.01. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.

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