Mutual of America Capital Management LLC Invests $6.58 Million in Workday, Inc. (NASDAQ:WDAY)

Mutual of America Capital Management LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,480 shares of the software maker’s stock, valued at approximately $6,575,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake 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 valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp increased its stake in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake 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 valued at $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 increased its stake in Workday by 4.0% in 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 valued at $482,133,000 after purchasing an additional 75,747 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 3.3 %

Shares of WDAY stock opened at $254.57 on Tuesday. The firm has a 50-day moving average price of $259.48 and a 200 day moving average price of $255.31. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 3.55 and a beta of 1.35. 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 (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 369,374 shares of company stock worth $95,786,918 in the last 90 days. 20.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Loop Capital raised their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. UBS Group raised their target price on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $302.14.

About Workday

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.