Paradigm Asset Management Co. LLC Takes $232,000 Position in Workday, Inc. (NASDAQ:WDAY)

Paradigm Asset Management Co. LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 900 shares of the software maker’s stock, valued at approximately $232,000.

A number of other institutional investors have also added to or reduced their stakes in WDAY. Two Sigma Advisers LP boosted its holdings in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after buying an additional 562,400 shares during the period. KBC Group NV lifted its holdings in Workday by 340.3% during the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after purchasing an additional 506,812 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 during the period. Principal Financial Group Inc. grew its holdings in Workday by 2,166.1% in the 4th quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock valued at $104,044,000 after buying an additional 385,430 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Workday during the third quarter worth $78,003,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada increased their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Oppenheimer reissued an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. Finally, Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $291.11.

Insiders Place Their Bets

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 transaction of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

Shares of WDAY opened at $256.39 on Friday. The firm’s fifty day simple moving average is $260.75 and its two-hundred day simple moving average is $252.87. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. 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 market capitalization of $68.20 billion, a P/E ratio of 42.52, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

About Workday

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.