Workday, Inc. (NASDAQ:WDAY) Position Boosted by Fernbridge Capital Management LP

Fernbridge Capital Management LP raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 60.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,249 shares of the software maker’s stock after buying an additional 118,868 shares during the period. Workday comprises 4.7% of Fernbridge Capital Management LP’s investment portfolio, making the stock its 9th largest position. Fernbridge Capital Management LP’s holdings in Workday were worth $70,701,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WDAY. Van ECK Associates Corp boosted its holdings in Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares during the period. Vanguard Group Inc. lifted its stake in shares of Workday by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after acquiring an additional 437,215 shares in the last quarter. Kodai Capital Management LP purchased a new position in Workday in the fourth quarter valued at about $85,994,000. Sustainable Growth Advisers LP grew its stake in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after purchasing an additional 281,207 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $248.29 on Friday. The firm has a market capitalization of $65.80 billion, a PE ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s 50 day simple moving average is $237.48 and its 200 day simple moving average is $242.12.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts forecast that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WDAY shares. Morgan Stanley reduced their target price on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Loop Capital raised their price objective on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Bank of America lifted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Guggenheim restated a “sell” rating and set a $190.00 price objective on shares of Workday in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $286.48.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the transaction, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total value of $14,112,630.00. Following the sale, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock valued at $109,864,184 over the last ninety days. Insiders own 20.00% of the company’s stock.

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.