Workday, Inc. (NASDAQ:WDAY) Position Increased by Fernbridge Capital Management LP

Fernbridge Capital Management LP boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 761,296 shares of the software maker's stock after purchasing an additional 341,918 shares during the period. Workday comprises approximately 10.3% of Fernbridge Capital Management LP's portfolio, making the stock its 3rd biggest holding. Fernbridge Capital Management LP owned 0.29% of Workday worth $196,437,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WDAY. Bristlecone Advisors LLC grew its position in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after acquiring an additional 968 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Workday during the 4th quarter valued at about $369,000. Principal Financial Group Inc. boosted its holdings in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock valued at $4,349,000 after acquiring an additional 5,519 shares during the last quarter. Finally, Smith Group Asset Management LLC boosted its holdings in shares of Workday by 9.4% during the 4th quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker's stock valued at $28,129,000 after acquiring an additional 9,324 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now owns 111,324 shares of the company's stock, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 0.7 %

Shares of NASDAQ WDAY traded up $1.61 during mid-day trading on Wednesday, reaching $245.00. 1,432,558 shares of the company's stock were exchanged, compared to its average volume of 2,612,413. The firm has a market capitalization of $65.17 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 3.55 and a beta of 1.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $239.94 and a 200 day simple moving average of $251.83. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and raised their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Canaccord Genuity Group lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their target price on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, DA Davidson cut their price objective on shares of Workday from $270.00 to $230.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.86.

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.