Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 77.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,210 shares of the software maker's stock after purchasing an additional 14,885 shares during the period. Lmcg Investments LLC's holdings in Workday were worth $7,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grassi Investment Management lifted its holdings in Workday by 0.4% during the first quarter. Grassi Investment Management now owns 13,460 shares of the software maker's stock worth $3,143,000 after acquiring an additional 50 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Workday by 16.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,057 shares of the software maker's stock valued at $480,000 after buying an additional 293 shares during the period. Merit Financial Group LLC raised its stake in Workday by 19.0% in the first quarter. Merit Financial Group LLC now owns 2,666 shares of the software maker's stock valued at $623,000 after buying an additional 426 shares during the period. Finally, NBC Securities Inc. grew its position in shares of Workday by 101,114.3% in the first quarter. NBC Securities Inc. now owns 7,085 shares of the software maker's stock valued at $1,654,000 after purchasing an additional 7,078 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WDAY shares. JMP Securities reaffirmed a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Oppenheimer lowered 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. Royal Bank of Canada reiterated an "outperform" rating and set a $340.00 price target on shares of Workday in a report on Friday, May 23rd. Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Finally, Guggenheim restated a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Up 1.0%

Shares of WDAY stock traded up $2.62 during midday trading on Friday, reaching $252.72. 1,393,024 shares of the stock were exchanged, compared to its average volume of 2,474,061. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company's 50 day moving average is $242.59 and its two-hundred day moving average is $252.88. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $67.48 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. The firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company's revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 EPS. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 7,722 shares in the company, valued at $1,862,778.06. The trade was a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now owns 75,000 shares of the company's stock, valued at $18,099,750. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,338 shares of company stock valued at $59,875,701. Insiders own 19.31% of the company's stock.

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.