Tidal Investments LLC Purchases 2,896 Shares of Workday, Inc. (NASDAQ:WDAY)

Tidal Investments LLC boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,442 shares of the software maker's stock after purchasing an additional 2,896 shares during the quarter. Tidal Investments LLC's holdings in Workday were worth $4,243,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday in the 4th quarter worth approximately $658,735,000. Norges Bank acquired a new stake in shares of Workday in the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC lifted its stake in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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 during the period. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on WDAY shares. JMP Securities reiterated a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Friday. Morgan Stanley boosted their target price on shares of Workday from $250.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $340.00 target price on shares of Workday in a report on Friday. Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Nine analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $292.69.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. This trade represents a 39.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of 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. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 in the last quarter. Insiders own 19.31% of the company's stock.

Workday Stock Down 12.5%

NASDAQ:WDAY traded down $34.06 on Friday, hitting $238.01. The stock had a trading volume of 9,908,921 shares, compared to its average volume of 2,595,353. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market cap of $63.31 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm's fifty day simple moving average is $242.57 and its two-hundred day simple moving average is $254.20.

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