Versant Capital Management Inc Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Versant Capital Management Inc raised its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 360.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,358 shares of the software maker's stock after buying an additional 1,063 shares during the quarter. Versant Capital Management Inc's holdings in Workday were worth $317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Workday by 2,052.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,875 shares of the software maker's stock valued at $1,372,000 after acquiring an additional 5,602 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Workday in the fourth quarter valued at $18,401,000. Castle Rock Wealth Management LLC acquired a new position in shares of Workday during the fourth quarter valued at about $1,089,000. Park Square Financial Group LLC acquired a new position in shares of Workday during the fourth quarter valued at about $117,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Workday during the 4th quarter worth about $117,259,000. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WDAY. Oppenheimer decreased their target price on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. KeyCorp reduced their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. DA Davidson boosted their price objective on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Loop Capital lowered their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Finally, Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average price target of $293.54.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated 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 owns 10,847 shares of the company's stock, valued at $2,544,814.67. The trade was a 22.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 252,338 shares of company stock valued at $59,875,701. Company insiders own 19.31% of the company's stock.

Workday Stock Performance

WDAY traded up $0.04 during trading on Monday, hitting $247.75. 2,034,329 shares of the company traded hands, compared to its average volume of 2,498,170. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock's fifty day moving average is $241.60 and its 200 day moving average is $253.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $65.90 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm earned $1.74 EPS. The company's revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS 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.