CWA Asset Management Group LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

CWA Asset Management Group LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,975 shares of the software maker’s stock, valued at approximately $510,000.

Several other hedge funds have also recently modified their holdings of WDAY. Janus Henderson Group PLC raised its holdings in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. State Street Corp raised its stake in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings in 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 worth $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Workday by 4.0% in the 3rd 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 worth $482,133,000 after purchasing an additional 75,747 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,085 shares of company stock valued at $95,380,557. 20.00% of the stock is owned by insiders.

Workday Stock Up 2.0 %

Shares of NASDAQ WDAY opened at $254.69 on Thursday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company’s 50-day simple moving average is $261.93 and its 200-day simple moving average is $245.44. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts predict that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WDAY shares. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday. Citigroup dropped their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Finally, Bank of America reduced their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $292.25.

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.