OFI Invest Asset Management Acquires Shares of 5,876 Workday, Inc. (NASDAQ:WDAY)

OFI Invest Asset Management acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,876 shares of the software maker’s stock, valued at approximately $1,464,000.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Bristlecone Advisors LLC grew its position in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares during the period. Sanctuary Advisors LLC grew its position in shares of Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares during the period. Grafton Street Partners Fund LP purchased a new stake in shares of Workday in the 3rd quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd grew its position in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the 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 completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the 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 directly owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 435,829 shares of company stock valued at $113,033,319 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

Workday Trading Down 0.5 %

Workday stock opened at $252.38 on Monday. The firm has a 50 day moving average of $258.39 and a 200 day moving average of $255.93. The firm has a market capitalization of $67.13 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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 (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during 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%. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Daiwa America raised shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group increased 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. Redburn Atlantic started coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and increased their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten equities research 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 stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

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.