Gateway Investment Advisers LLC Purchases 9,402 Shares of Workday, Inc. (NASDAQ:WDAY)

Gateway Investment Advisers LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 31.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,241 shares of the software maker's stock after buying an additional 9,402 shares during the quarter. Gateway Investment Advisers LLC's holdings in Workday were worth $9,164,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. grew its holdings in Workday by 2.9% during the 1st quarter. Congress Asset Management Co. now owns 41,399 shares of the software maker's stock worth $9,668,000 after acquiring an additional 1,182 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Workday by 9.7% in the 1st quarter. SeaCrest Wealth Management LLC now owns 1,347 shares of the software maker's stock worth $315,000 after purchasing an additional 119 shares during the period. Procyon Advisors LLC boosted its stake in shares of Workday by 0.7% during the first quarter. Procyon Advisors LLC now owns 8,564 shares of the software maker's stock valued at $2,000,000 after purchasing an additional 62 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Workday by 1,396.5% during the first quarter. E. Ohman J or Asset Management AB now owns 146,189 shares of the software maker's stock valued at $34,140,000 after purchasing an additional 136,420 shares in the last quarter. Finally, Salvus Wealth Management LLC increased its holdings in Workday by 2.8% during the first quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after buying an additional 45 shares during the period. Institutional investors own 89.81% of the company's stock.

Workday Trading Up 1.0%

Shares of Workday stock opened at $252.72 on Friday. The firm has a 50-day simple moving average of $242.59 and a two-hundred day simple moving average of $252.99. 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, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market cap of $67.48 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24.

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 analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.74 earnings per share. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value 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. This represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 15,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $243.17, for a total transaction of $3,647,550.00. Following the sale, the insider now directly owns 45,000 shares of the company's stock, valued at $10,942,650. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,338 shares of company stock valued at $59,875,701 over the last ninety days. Corporate insiders own 19.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Daiwa America upgraded Workday to a "strong-buy" rating in a report on Tuesday, March 4th. BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Jefferies Financial Group reduced their target price on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Needham & Company LLC reissued a "buy" rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $293.54.

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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