Keystone Investors PTE Ltd. Buys New Stake in Workday, Inc. (NASDAQ:WDAY)

Keystone Investors PTE Ltd. purchased a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,481 shares of the software maker's stock, valued at approximately $2,065,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Capital Management LLC lifted its holdings in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker's stock worth $31,000 after buying an additional 105 shares during the period. CVA Family Office LLC bought a new position in Workday in the 4th quarter worth $33,000. VisionPoint Advisory Group LLC increased its stake in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock worth $26,000 after buying an additional 84 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Workday in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on Workday from $250.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, February 27th. Evercore ISI increased their price objective on shares of Workday from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. TheStreet upgraded shares of Workday from a "c" rating to a "b-" rating in a research report on Monday, February 26th. Finally, Oppenheimer reduced their price target on shares of Workday from $350.00 to $320.00 and set an "outperform" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $295.21.

Workday Trading Up 1.8 %

Shares of WDAY stock traded up $4.43 on Wednesday, reaching $251.31. 2,194,177 shares of the company's stock were exchanged, compared to its average volume of 1,846,638. The company's fifty day simple moving average is $262.30 and its 200 day simple moving average is $267.43. The stock has a market capitalization of $66.35 billion, a PE ratio of 48.29, a P/E/G ratio of 6.17 and a beta of 1.33. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52 week low of $182.59 and a 52 week high of $311.28.

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

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 65,221 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 843,000 shares of the company's stock, valued at approximately $223,302,270. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is currently owned by company 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.