Mondrian Investment Partners LTD Takes Position in Workday, Inc. (NASDAQ:WDAY)

Mondrian Investment Partners LTD bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,029 shares of the software maker’s stock, valued at approximately $15,731,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp raised its stake in shares of Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the period. Geode Capital Management LLC raised its stake in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Down 1.8 %

NASDAQ:WDAY opened at $237.22 on Friday. The company’s 50-day simple moving average is $257.09 and its 200-day simple moving average is $255.67. The stock has a market capitalization of $63.10 billion, a P/E ratio of 39.34, 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, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,829 shares of company stock valued at $113,033,319. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Barclays reduced their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. BMO Capital Markets raised their price target on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $302.14.

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.