GF Fund Management CO. LTD. Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

GF Fund Management CO. LTD. acquired a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,368 shares of the software maker's stock, valued at approximately $10,416,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC raised its position 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. raised its position 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 worth $911,027,000 after acquiring an additional 52,104 shares in the last quarter. Finally, FIL Ltd raised 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 worth $764,575,000 after acquiring an additional 181,899 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Performance

Shares of WDAY traded up $0.60 during trading hours on Wednesday, hitting $239.90. The company's stock had a trading volume of 2,716,532 shares, compared to its average volume of 2,552,547. The business has a 50 day simple moving average of $242.06 and a two-hundred day simple moving average of $253.96. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $63.81 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 3.55 and a beta of 1.30.

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

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last three months. Company insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WDAY. Mizuho lowered their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, May 21st. Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. KeyCorp decreased their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, Wells Fargo & Company cut their target price on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Nine 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.