Brighton Jones LLC Purchases New Holdings in Workday, Inc. (NASDAQ:WDAY)

Brighton Jones LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, HoldingsChannel reports. The firm acquired 964 shares of the software maker’s stock, valued at approximately $266,000.

A number of other hedge funds have also made changes to their positions in WDAY. Wellington Management Group LLP lifted its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC boosted its holdings in shares of Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after purchasing an additional 1,000,922 shares during the last quarter. Morgan Stanley grew its position in shares of Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares in the last quarter. Alkeon Capital Management LLC acquired a new stake in shares of Workday in the third quarter valued at approximately $107,425,000. Finally, Invesco Ltd. increased its holdings in shares of Workday by 22.1% in the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock valued at $387,205,000 after purchasing an additional 326,283 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 2.0 %

Shares of Workday stock opened at $255.78 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The company has a market capitalization of $67.53 billion, a P/E ratio of 49.67, a P/E/G ratio of 6.27 and a beta of 1.33. The company has a 50 day moving average of $269.08 and a 200 day moving average of $264.57.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. As a group, research analysts forecast that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $272.02, for a total value of $15,505,140.00. Following the transaction, the insider now directly owns 1,067,000 shares in the company, valued at approximately $290,245,340. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDAY. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, February 27th. Stifel Nicolaus lifted their target price on shares of Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Citigroup increased their price target on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Morgan Stanley reduced their price target on shares of Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Finally, Mizuho increased their price objective on Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $293.61.

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.