Vident Advisory LLC Acquires 35,523 Shares of Workday, Inc. (NASDAQ:WDAY)

Vident Advisory LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 173.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,977 shares of the software maker's stock after purchasing an additional 35,523 shares during the period. Vident Advisory LLC's holdings in Workday were worth $14,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Workday by 28.9% during 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 in the last quarter. Geode Capital Management LLC grew its position 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 valued at $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. lifted its stake in Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after acquiring an additional 52,104 shares during the last quarter. Finally, FIL Ltd lifted its stake in Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after acquiring an additional 181,899 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY traded up $3.53 during trading hours on Thursday, hitting $272.07. The stock had a trading volume of 4,120,224 shares, compared to its average volume of 2,573,375. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company's fifty day moving average is $242.42 and its two-hundred day moving average is $254.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $72.37 billion, a price-to-earnings ratio of 45.12, a P/E/G ratio of 3.55 and a beta of 1.30.

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 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%. During the same quarter last year, the company posted $1.74 EPS. The company's revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WDAY. Jefferies Financial Group reduced their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Mizuho reduced their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $293.62.

Insiders Place Their Bets

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 transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was 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 valued at $77,976,126 in the last 90 days. 19.31% of the stock is currently owned by insiders.

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.