Workday, Inc. (NASDAQ:WDAY) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 60.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,722,255 shares of the software maker's stock after buying an additional 1,406,088 shares during the period. Workday accounts for about 0.8% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 13th largest position. The Manufacturers Life Insurance Company owned about 1.40% of Workday worth $960,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WDAY. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter worth $25,000. Crews Bank & Trust purchased a new stake in shares of Workday in the fourth quarter worth about $26,000. Avion Wealth boosted its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in Workday during the 4th quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. increased its stake in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction that occurred on 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 $29,556,522. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 102,997 shares in the company, valued at $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,724 shares of company stock valued at $77,976,126. Insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WDAY shares. Oppenheimer boosted their price target on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. UBS Group boosted their price objective on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley dropped their price target on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. KeyCorp upped their target price on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $292.86.

Workday Price Performance

Shares of Workday stock traded up $1.61 during trading hours 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 business has a fifty day moving average of $239.72 and a two-hundred day moving average of $251.78. 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 company has a market capitalization of $65.17 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data 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 business 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, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.