NorthCrest Asset Manangement LLC Invests $453,000 in Workday, Inc. (NASDAQ:WDAY)

NorthCrest Asset Manangement LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,941 shares of the software maker's stock, valued at approximately $453,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in Workday during the 4th quarter worth about $25,000. TCTC Holdings LLC acquired a new stake in shares of Workday during the 4th quarter worth about $35,000. Financial Management Professionals Inc. lifted its stake in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in Workday by 169.6% in the first quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock valued at $50,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the 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 completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction 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 sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,666 shares of company stock worth $38,465,025 in the last quarter. Corporate insiders own 19.31% of the company's stock.

Workday Stock Up 0.5%

Shares of NASDAQ:WDAY traded up $1.11 during trading on Monday, hitting $245.65. 1,825,529 shares of the company's stock traded hands, compared to its average volume of 2,258,226. The company has a market cap of $65.59 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week 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 company has a 50-day moving average price of $245.50 and a 200-day moving average price of $252.46.

Workday (NASDAQ:WDAY - Get Free Report) last released its 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. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. Workday's revenue was up 12.6% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of several research analyst reports. Morgan Stanley set a $255.00 price target on Workday and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Loop Capital dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Finally, Scotiabank decreased their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $293.54.

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.