Charles Schwab Investment Management Inc. Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Charles Schwab Investment Management Inc. increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 744,482 shares of the software maker's stock after acquiring an additional 26,307 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.28% of Workday worth $205,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Beacon Capital Management LLC boosted its holdings in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock worth $25,000 after buying an additional 70 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in shares of Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock worth $26,000 after buying an additional 84 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Workday in the third quarter worth approximately $29,000. Exchange Traded Concepts LLC boosted its holdings in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker's stock worth $31,000 after purchasing an additional 105 shares during the period. Finally, CVA Family Office LLC purchased a new position in Workday during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. DA Davidson reissued a "neutral" rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, February 27th. UBS Group reduced their price objective on Workday from $315.00 to $300.00 and set a "neutral" rating for the company in a research report on Tuesday, February 27th. Barclays cut their price target on Workday from $326.00 to $316.00 and set an "overweight" rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on Workday from $260.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, Mizuho upped their price objective on shares of Workday from $290.00 to $325.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $293.61.

Workday Stock Performance

Shares of WDAY traded down $3.67 during trading hours on Thursday, reaching $245.96. 2,577,043 shares of the company traded hands, compared to its average volume of 1,843,430. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 1-year low of $174.70 and a 1-year high of $311.28. The stock's fifty day moving average is $265.10 and its 200 day moving average is $265.94. The stock has a market cap of $64.93 billion, a P/E ratio of 47.75, a price-to-earnings-growth ratio of 6.39 and a beta of 1.33.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company's revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. Equities research analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares of the company's stock, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is currently owned by corporate insiders.

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.