Forum Financial Management LP Invests $287,000 in Workday, Inc. (NASDAQ:WDAY)

Forum Financial Management LP bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,113 shares of the software maker's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WDAY. Vanguard Group Inc. boosted its position in shares of Workday by 28.9% in the fourth 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. bought a new stake in shares of Workday in the 4th quarter valued at about $658,735,000. Norges Bank purchased a new position in shares of Workday in the 4th quarter valued at approximately $645,710,000. Parnassus Investments LLC raised its position 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 last quarter. Finally, Geode Capital Management LLC grew its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after buying an additional 1,772,223 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the transaction, the director now directly owns 75,000 shares of the company's stock, valued at approximately $18,099,750. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,793 shares of company stock valued at $77,122,102. 20.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JMP Securities restated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Stifel Nicolaus dropped their price objective on shares of Workday from $310.00 to $275.00 and set a "hold" rating on the stock 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. KeyCorp dropped their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, Wells Fargo & Company lowered their price target on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Stock Performance

WDAY stock traded up $5.77 on Friday, reaching $247.53. The company's stock had a trading volume of 3,490,326 shares, compared to its average volume of 2,500,048. The company has a market capitalization of $65.84 billion, a P/E ratio of 41.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. 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 firm has a fifty day moving average of $241.60 and a two-hundred day moving average of $253.27.

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

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.