Stonegate Investment Group LLC Buys 493 Shares of Workday, Inc. (NASDAQ:WDAY)

Stonegate Investment Group LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,902 shares of the software maker’s stock after purchasing an additional 493 shares during the period. Stonegate Investment Group LLC’s holdings in Workday were worth $2,181,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Workday by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after buying an additional 263,994 shares in the last quarter. Wellington Management Group LLP grew its stake in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. State Street Corp increased its holdings in shares of Workday by 0.5% in the second quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock worth $969,893,000 after acquiring an additional 22,929 shares in the last quarter. Polen Capital Management LLC raised 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 during the period. Finally, Norges Bank bought a new position in shares of Workday during the 4th quarter valued at about $600,504,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $276.95, for a total value of $15,509,200.00. Following the transaction, the insider now directly owns 1,011,000 shares of the company’s stock, valued at approximately $279,996,450. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the sale, the insider now owns 1,011,000 shares of the company’s stock, valued at approximately $279,996,450. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold a total of 463,484 shares of company stock valued at $126,630,341 over the last quarter. 21.09% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $271.66 on Wednesday. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company’s 50 day moving average price is $286.56 and its two-hundred day moving average price is $259.32. The firm has a market cap of $71.72 billion, a PE ratio of 52.75, a PEG ratio of 6.81 and a beta of 1.32. 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 (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Equities research analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on WDAY shares. Needham & Company LLC raised their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. UBS Group lowered their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Evercore ISI increased their price objective on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.