Osborne Partners Capital Management LLC Purchases Shares of 25,615 Workday, Inc. (NASDAQ:WDAY)

Osborne Partners Capital Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,615 shares of the software maker's stock, valued at approximately $5,982,000.

Other institutional investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday in the 1st quarter valued at about $32,000. TCTC Holdings LLC bought a new stake in shares of Workday in the 4th quarter valued at about $35,000. Financial Management Professionals Inc. grew its position in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after buying an additional 66 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in shares of Workday by 169.6% in the 1st quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock valued at $50,000 after buying an additional 134 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 71,240 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $244.31, for a total transaction of $17,404,644.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,163,197.07. This represents a 40.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,906 shares of company stock valued at $59,549,619. 19.31% of the stock is owned by insiders.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Westpark Capital upped their price target on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. DA Davidson upped their target price on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, Jefferies Financial Group dropped their price target on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Nine investment 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Performance

Shares of Workday stock opened at $236.88 on Friday. The company has a market cap of $63.25 billion, a PE ratio of 130.87, a price-to-earnings-growth ratio of 3.58 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 business has a 50 day moving average price of $246.78 and a 200-day moving average price of $252.16. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company's quarterly revenue 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. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share 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.

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