Lmcg Investments LLC Purchases 14,885 Shares of Workday, Inc. (NASDAQ:WDAY)

Lmcg Investments LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 77.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,210 shares of the software maker's stock after acquiring an additional 14,885 shares during the period. Lmcg Investments LLC's holdings in Workday were worth $7,989,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WDAY. 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 acquiring an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Workday in the fourth quarter valued at $658,735,000. Norges Bank bought a new stake in Workday in the fourth quarter valued at $645,710,000. Parnassus Investments LLC boosted its holdings in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Finally, 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 acquiring an additional 1,772,223 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $0.62 during midday trading on Thursday, hitting $250.10. 1,735,805 shares of the company's stock traded hands, compared to its average volume of 2,478,699. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a market capitalization of $66.53 billion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. 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 firm has a fifty day moving average of $241.89 and a 200 day moving average of $253.15.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The company 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 firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 EPS. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WDAY shares. The Goldman Sachs Group boosted their target price on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Stifel Nicolaus dropped their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Loop Capital dropped their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Finally, Jefferies Financial Group dropped their target price on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at $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 available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $241.23, for a total value of $753,843.75. Following the completion of the transaction, the chief executive officer now owns 7,722 shares of the company's stock, valued at $1,862,778.06. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,338 shares of company stock worth $59,875,701 in the last three months. 19.31% of the stock is owned by company 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.