Workday, Inc. (NASDAQ:WDAY) Position Raised by Select Equity Group L.P.

Select Equity Group L.P. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 494,643 shares of the software maker's stock after acquiring an additional 93,958 shares during the period. Select Equity Group L.P. owned about 0.19% of Workday worth $127,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC boosted its stake in Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock valued at $330,000 after purchasing an additional 37 shares during the period. Custom Index Systems LLC increased its stake in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after buying an additional 41 shares during the period. AllSquare Wealth Management LLC increased its stake in Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after buying an additional 41 shares during the period. CreativeOne Wealth LLC grew its position in Workday by 1.5% in the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock worth $745,000 after acquiring an additional 43 shares in the last quarter. Finally, Ashton Thomas Securities LLC grew its position in Workday by 3.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock worth $385,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley cut their price target on shares of Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JMP Securities reiterated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, Loop Capital lifted their price target on shares of Workday from $242.00 to $260.00 and gave the company a "hold" rating in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and an average target price of $293.62.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,455 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,729,781.44. This represents a 39.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the 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 directly owns 111,324 shares in the company, 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 quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 19.31% of the company's stock.

Workday Trading Up 0.2%

Shares of Workday stock traded up $0.54 during trading on Tuesday, reaching $273.84. The company's stock had a trading volume of 1,354,722 shares, compared to its average volume of 2,566,783. The firm's 50-day moving average is $241.20 and its two-hundred day moving average is $253.77. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a market cap of $72.84 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 3.55 and a beta of 1.30. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Workday 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.