Cypress Asset Management Inc. TX Purchases Shares of 4,426 Workday, Inc. (NASDAQ:WDAY)

Cypress Asset Management Inc. TX bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 4,426 shares of the software maker's stock, valued at approximately $1,187,000.

Several other large investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. lifted its stake in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in shares of Workday in the 4th quarter valued at $658,735,000. Norges Bank acquired a new position in shares of Workday in the 4th quarter valued at $645,710,000. Parnassus Investments LLC lifted 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 during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Workday by 61.9% in 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 period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Up 0.8%

NASDAQ WDAY traded up $1.86 during trading hours on Thursday, reaching $241.76. The company had a trading volume of 2,989,671 shares, compared to its average volume of 2,534,899. The stock has a 50-day moving average of $241.87 and a 200 day moving average of $253.86. 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. The stock has a market capitalization of $64.31 billion, a P/E ratio of 40.09, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. The trade was a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,668 shares of company stock valued at $76,368,258. 20.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Wells Fargo & Company cut their price target on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Citigroup lowered shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Loop Capital cut their price target on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Finally, Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Nine equities research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $293.54.

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.