Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,263,981 shares of the software maker's stock after purchasing an additional 767,034 shares during the period. Northern Trust Corp owned approximately 0.85% of Workday worth $584,175,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Workday during the 4th quarter worth about $658,735,000. Norges Bank purchased a new stake in Workday during the 4th quarter valued at about $645,710,000. Parnassus Investments LLC increased its holdings in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of Workday stock traded up $2.07 during mid-day trading on Friday, reaching $248.68. 1,302,174 shares of the stock traded hands, compared to its average volume of 2,596,618. The business has a 50-day moving average of $239.28 and a 200 day moving average of $251.84. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $66.15 billion, a PE ratio of 41.24, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WDAY shares. Mizuho dropped their target price on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Redburn Atlantic began coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating for the company. KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price 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.