Smith Group Asset Management LLC Buys 4,089 Shares of Workday, Inc. (NASDAQ:WDAY)

Smith Group Asset Management LLC raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,102 shares of the software maker's stock after purchasing an additional 4,089 shares during the quarter. Workday accounts for 2.0% of Smith Group Asset Management LLC's investment portfolio, making the stock its 22nd biggest holding. Smith Group Asset Management LLC's holdings in Workday were worth $26,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WDAY. Vanguard Group Inc. lifted its position in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the 4th quarter worth approximately $658,735,000. Norges Bank acquired a new stake in shares of Workday in the 4th quarter valued at approximately $645,710,000. Parnassus Investments LLC boosted its stake in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Workday by 61.9% during the fourth 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 during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $241.23, for a total transaction of $753,843.75. Following the transaction, the chief executive officer directly owned 7,722 shares of the company's stock, valued at approximately $1,862,778.06. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director owned 67,500 shares in the company, valued at approximately $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,733 shares of company stock valued at $59,649,301 over the last ninety days. 20.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, May 21st. Jefferies Financial Group reduced their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Royal Bank Of Canada reissued an "outperform" rating and set a $340.00 price objective on shares of Workday in a report on Friday, May 23rd. Mizuho dropped their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Scotiabank decreased their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. 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 company. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $297.68.

Workday Stock Down 0.3%

Shares of WDAY traded down $0.77 during mid-day trading on Tuesday, reaching $239.23. The company's stock had a trading volume of 2,601,513 shares, compared to its average volume of 2,456,036. The company has a market cap of $63.87 billion, a price-to-earnings ratio of 132.17, a price-to-earnings-growth ratio of 3.59 and a beta of 1.24. The business has a fifty day moving average of $248.50 and a 200 day moving average of $250.34. 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, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. Workday's quarterly revenue was up 12.6% on a year-over-year basis. As a group, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday Company 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.