Candriam S.C.A. Raises Position in Workday, Inc. (NASDAQ:WDAY)

Candriam S.C.A. increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 7.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,955 shares of the software maker’s stock after acquiring an additional 1,861 shares during the quarter. Candriam S.C.A.’s holdings in Workday were worth $6,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Workday in the fourth quarter worth $26,000. Roxbury Financial LLC bought a new position in Workday in the fourth quarter valued at $25,000. Avion Wealth increased its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Workday in the third quarter valued at $26,000. Finally, Meeder Asset Management Inc. increased its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 0.5 %

NASDAQ:WDAY opened at $252.38 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a market cap of $67.13 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a 50 day simple moving average of $258.39 and a two-hundred day simple moving average of $255.61.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Daiwa America raised Workday to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group increased their target price on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Bank of America reduced their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their price objective on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

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.