Cromwell Holdings LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Cromwell Holdings LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 198 shares of the software maker’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in Workday by 10.7% during 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 during the period. State Street Corp lifted its stake in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC lifted its stake in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Workday by 0.6% during 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Workday by 4.0% during the third 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 during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock opened at $261.63 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a market cap of $69.59 billion, a PE ratio of 43.39, a PEG ratio of 3.56 and a beta of 1.35. The company’s 50-day moving average is $261.10 and its two-hundred day moving average is $252.54.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on WDAY. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $330.00 to $275.00 in a research note on Wednesday. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday. They set a “neutral” rating on the stock. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $291.11.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last ninety days. Company 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.