Moors & Cabot Inc. Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Moors & Cabot Inc. increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 42.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,182 shares of the software maker’s stock after purchasing an additional 353 shares during the quarter. Moors & Cabot Inc.’s holdings in Workday were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. Raymond James Financial Inc. purchased a new position in Workday in the 4th quarter valued at about $194,679,000. Two Sigma Advisers LP lifted its holdings in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Workday by 62.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock valued at $350,921,000 after purchasing an additional 524,799 shares in the last quarter. KBC Group NV lifted its holdings in Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after purchasing an additional 506,812 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Performance

Workday stock opened at $244.17 on Friday. The stock has a market cap of $64.95 billion, a P/E ratio of 40.49, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. 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 stock has a 50 day moving average of $256.91 and a 200-day moving average of $255.49. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

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