Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Arcus Capital Partners LLC

Arcus Capital Partners LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 28.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,962 shares of the software maker's stock after purchasing an additional 3,075 shares during the period. Workday accounts for approximately 1.3% of Arcus Capital Partners LLC's investment portfolio, making the stock its 13th biggest holding. Arcus Capital Partners LLC's holdings in Workday were worth $3,261,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 last quarter. Geode Capital Management LLC boosted its holdings in Workday by 61.9% in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Workday by 60.7% in 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 during the last quarter. Brown Advisory Inc. boosted its holdings 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 purchasing an additional 52,104 shares during the last quarter. Finally, FIL Ltd boosted its holdings 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 purchasing an additional 181,899 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares in the company, valued at $352,440.96. This trade represents a 80.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,554 shares of company stock worth $79,097,601 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

WDAY stock traded down $5.93 during mid-day trading on Friday, reaching $223.37. The company's stock had a trading volume of 2,494,795 shares, compared to its average volume of 2,485,606. The stock has a market cap of $59.64 billion, a PE ratio of 123.41, a P/E/G ratio of 3.38 and a beta of 1.21. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company's 50 day moving average is $248.29 and its two-hundred day moving average is $248.22.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 EPS. Equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. Scotiabank lowered their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Westpark Capital increased their target price on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Oppenheimer lowered their target price on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Mizuho lowered their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

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.