Workday, Inc. (NASDAQ:WDAY) Shares Bought by Valley National Advisers Inc.

Valley National Advisers Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 32.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231 shares of the software maker’s stock after purchasing an additional 57 shares during the quarter. Valley National Advisers Inc.’s holdings in Workday were worth $63,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Workday by 1.9% during the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock worth $3,010,244,000 after purchasing an additional 263,994 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Workday by 37.4% during 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 purchasing an additional 1,406,153 shares in the last quarter. State Street Corp lifted its position in shares of Workday by 3.0% during the first quarter. State Street Corp now owns 4,270,722 shares of the software maker’s stock worth $882,064,000 after purchasing an additional 126,266 shares in the last quarter. Polen Capital Management LLC lifted its position in shares of Workday by 2.0% during the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after purchasing an additional 78,352 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Workday during the fourth quarter worth about $600,504,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WDAY. The Goldman Sachs Group increased their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. KeyCorp upped their target price on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Needham & Company LLC upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Stifel Nicolaus upped 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. Finally, Mizuho upped their target price on shares of Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One equities 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $293.61.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 62,731 shares of Workday stock in a transaction on Friday, January 12th. The shares were sold at an average price of $281.45, for a total value of $17,655,639.95. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $28,988,505.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder David A. Duffield sold 62,731 shares of Workday stock in a transaction on Friday, January 12th. The shares were sold at an average price of $281.45, for a total value of $17,655,639.95. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $28,988,505.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders have sold a total of 442,422 shares of company stock worth $120,553,369 in the last three months. Insiders own 21.09% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $266.86 on Thursday. The firm’s fifty day simple moving average is $283.24 and its 200-day simple moving average is $260.71. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 51.82, a PEG ratio of 6.71 and a beta of 1.32. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

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

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.