111,788 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by Freshford Capital Management LLC

Freshford Capital Management LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 111,788 shares of the software maker's stock, valued at approximately $28,845,000. Workday accounts for about 8.2% of Freshford Capital Management LLC's investment portfolio, making the stock its 6th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Geode Capital Management LLC grew its position in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the period. FIL Ltd increased its stake in shares of Workday by 6.5% in the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after acquiring an additional 181,899 shares in the last quarter. Clearbridge Investments LLC lifted its position in Workday by 5.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after acquiring an additional 136,211 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Workday during the fourth quarter worth about $658,735,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

Shares of WDAY traded down $1.74 on Monday, reaching $237.79. The company's stock had a trading volume of 273,008 shares, compared to its average volume of 2,619,146. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a market capitalization of $63.25 billion, a P/E ratio of 39.42, a PEG ratio of 3.55 and a beta of 1.32. 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's 50 day simple moving average is $240.73 and its two-hundred day simple moving average is $251.90.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on 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. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WDAY has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of Workday from $290.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. KeyCorp lifted their price objective on Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Jefferies Financial Group cut their target price on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Loop Capital lifted their price target on Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, February 19th. Finally, Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and an average price target of $292.86.

About Workday

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.