Donoghue Forlines LLC Purchases 4,793 Shares of Workday, Inc. (NASDAQ:WDAY)

Donoghue Forlines LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 287.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,462 shares of the software maker's stock after buying an additional 4,793 shares during the quarter. Donoghue Forlines LLC's holdings in Workday were worth $1,784,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ORG Partners LLC grew its stake in shares of Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker's stock worth $788,000 after buying an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of Workday by 27.6% during the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker's stock worth $43,000 after buying an additional 34 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in shares of Workday by 8.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker's stock worth $133,000 after purchasing an additional 36 shares during the period. Meitav Investment House Ltd. lifted its holdings in shares of Workday by 2.6% during the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker's stock worth $387,000 after purchasing an additional 36 shares during the period. Finally, Cigna Investments Inc. New lifted its holdings in shares of Workday by 1.7% during the fourth quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker's stock worth $598,000 after purchasing an additional 37 shares during the period. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Workday from $250.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, February 27th. Evercore ISI lifted their price target on shares of Workday from $310.00 to $350.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. Barclays cut their price target on shares of Workday from $326.00 to $316.00 and set an "overweight" rating on the stock in a report on Tuesday, February 27th. KeyCorp lifted their price target on shares of Workday from $310.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, TheStreet upgraded shares of Workday from a "c" rating to a "b-" rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $293.61.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the firm's 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 approximately $27,690,743.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $272.02, for a total transaction of $15,505,140.00. Following the completion of the sale, the insider now owns 1,067,000 shares in the company, valued at approximately $290,245,340. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 in the last quarter. Insiders own 21.09% of the company's stock.

Workday Stock Up 0.2 %

NASDAQ:WDAY traded up $0.38 on Friday, hitting $246.34. The stock had a trading volume of 1,582,077 shares, compared to its average volume of 1,978,561. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $65.03 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 6.14 and a beta of 1.33. Workday, Inc. has a 1 year low of $174.70 and a 1 year high of $311.28. The firm's fifty day simple moving average is $263.22 and its two-hundred day simple moving average is $266.06.

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 firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company's revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. Analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

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.