Diametric Capital LP Invests $1.05 Million in Workday, Inc. (NASDAQ:WDAY)

Diametric Capital LP purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 4,071 shares of the software maker’s stock, valued at approximately $1,050,000.

Several other large investors have also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. lifted its position in shares of Workday by 28.9% in the 4th 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. Norges Bank bought a new position in Workday in the fourth quarter worth about $645,710,000. Parnassus Investments LLC lifted its holdings in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Workday in the fourth quarter valued at approximately $194,679,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Workday by 180.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,158,549 shares of the software maker’s stock valued at $295,071,000 after purchasing an additional 745,435 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 431,145 shares of company stock worth $108,631,438. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $233.53 on Tuesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The business’s fifty day moving average is $256.35 and its two-hundred day moving average is $254.69. The stock has a market capitalization of $62.12 billion, a P/E ratio of 38.73, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its earnings results 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 return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on WDAY shares. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. UBS Group upped their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, Citigroup decreased their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

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.