Clearbridge Investments LLC Acquires 136,211 Shares of Workday, Inc. (NASDAQ:WDAY)

Clearbridge Investments LLC boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,663,398 shares of the software maker’s stock after buying an additional 136,211 shares during the quarter. Clearbridge Investments LLC’s holdings in Workday were worth $687,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new position in Workday during the fourth quarter worth $26,000. Avion Wealth raised its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC acquired a new stake in shares of Workday during the 4th quarter worth about $35,000. Finally, True Wealth Design LLC grew its stake in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDAY shares. BMO Capital Markets boosted their price objective on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Price Performance

Workday stock opened at $238.49 on Friday. The firm has a market cap of $63.44 billion, a P/E ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. The stock’s 50 day moving average is $256.67 and its 200 day moving average is $254.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,145 shares of company stock worth $123,289,438. Company insiders own 20.00% of the company’s stock.

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.