Cercano Management LLC Purchases New Shares in Workday, Inc. (NASDAQ:WDAY)

Cercano Management LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 70,423 shares of the software maker's stock, valued at approximately $19,441,000.

A number of other hedge funds have also made changes to their positions in WDAY. Global Retirement Partners LLC grew its holdings in Workday by 68.5% during the 3rd quarter. Global Retirement Partners LLC now owns 332 shares of the software maker's stock worth $70,000 after acquiring an additional 135 shares during the last quarter. Caprock Group LLC grew its holdings in Workday by 136.5% during the 3rd quarter. Caprock Group LLC now owns 2,330 shares of the software maker's stock worth $501,000 after acquiring an additional 1,345 shares during the last quarter. Oak Thistle LLC bought a new stake in Workday during the 3rd quarter worth about $971,000. Asset Management One Co. Ltd. grew its holdings in Workday by 3.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 84,057 shares of the software maker's stock worth $18,060,000 after acquiring an additional 2,975 shares during the last quarter. Finally, Evanson Asset Management LLC grew its holdings in Workday by 32.0% during the 3rd quarter. Evanson Asset Management LLC now owns 2,063 shares of the software maker's stock worth $443,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Workday from $290.00 to $338.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. DA Davidson reaffirmed a "neutral" rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, February 27th. Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, February 27th. Wells Fargo & Company raised their target price on shares of Workday from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.61.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $27,633,065.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $27,633,065.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is owned by corporate insiders.

Workday Stock Down 1.2 %

WDAY traded down $3.02 during trading on Friday, hitting $251.04. The company had a trading volume of 2,549,113 shares, compared to its average volume of 1,310,809. The company has a market capitalization of $66.27 billion, a PE ratio of 48.75, a PEG ratio of 6.27 and a beta of 1.32. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28. The firm's 50-day moving average price is $273.49 and its 200 day moving average price is $264.36. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm's revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS. As a group, equities analysts expect that Workday, Inc. will post 1.76 earnings per share for the current year.

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.