Shell Asset Management Co. Buys 944 Shares of Workday, Inc. (NASDAQ:WDAY)

Shell Asset Management Co. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 69.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,297 shares of the software maker's stock after buying an additional 944 shares during the period. Shell Asset Management Co.'s holdings in Workday were worth $593,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sphera Funds Management LTD. increased its holdings in Workday by 33.3% in the 4th quarter. Sphera Funds Management LTD. now owns 10,000 shares of the software maker's stock worth $2,580,000 after acquiring an additional 2,500 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Workday by 124.0% during the fourth quarter. Rafferty Asset Management LLC now owns 134,428 shares of the software maker's stock worth $34,686,000 after purchasing an additional 74,408 shares during the period. Raiffeisen Bank International AG bought a new position in Workday during the fourth quarter worth about $42,840,000. Quantinno Capital Management LP increased its stake in shares of Workday by 13.2% in the fourth quarter. Quantinno Capital Management LP now owns 49,527 shares of the software maker's stock worth $12,780,000 after purchasing an additional 5,788 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new stake in shares of Workday in the fourth quarter valued at approximately $812,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock worth $77,976,126 in the last ninety days. 19.31% of the stock is owned by insiders.

Workday Price Performance

Shares of WDAY stock traded up $3.53 during trading hours on Thursday, hitting $272.07. 4,120,224 shares of the company's stock were exchanged, compared to its average volume of 2,571,875. The company has a market capitalization of $72.37 billion, a PE ratio of 45.12, a PEG ratio of 3.55 and a beta of 1.30. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The business's 50 day simple moving average is $242.42 and its 200-day simple moving average is $254.01.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. BMO Capital Markets raised their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Oppenheimer boosted their price objective on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.62.

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.