Delta Investment Management LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

Delta Investment Management LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,734 shares of the software maker's stock after acquiring an additional 2,463 shares during the period. Delta Investment Management LLC's holdings in Workday were worth $3,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Vanguard Group Inc. lifted its stake 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 purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Workday in the fourth quarter valued at $658,735,000. Norges Bank bought a new stake in shares of Workday in the 4th quarter valued at approximately $645,710,000. Parnassus Investments LLC boosted its stake in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC increased its holdings 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 worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of Workday 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 transaction, the chief executive officer now owns 10,847 shares in the company, valued at approximately $2,544,814.67. The trade was a 22.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on 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 sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16% 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 valued at $77,976,126 in the last quarter. 19.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WDAY shares. BNP Paribas raised Workday to a "strong-buy" rating in a report on Friday, February 14th. Wells Fargo & Company reduced their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Daiwa America raised Workday to a "strong-buy" rating in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $293.62.

Workday Trading Up 0.1%

Shares of WDAY stock opened at $273.30 on Tuesday. The stock has a market capitalization of $72.70 billion, a P/E ratio of 45.32, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The company has a 50 day moving average price of $241.20 and a 200 day moving average price of $253.77. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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 the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for 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%. Equities research analysts predict that Workday, Inc. will post 2.63 EPS 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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