Pinebridge Investments L.P. grew its holdings in Workday Inc (NASDAQ:WDAY) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,693 shares of the software maker’s stock after buying an additional 2,646 shares during the quarter. Pinebridge Investments L.P.’s holdings in Workday were worth $19,261,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Advisory Alpha LLC acquired a new stake in shares of Workday during the first quarter worth $30,000. Strategy Asset Managers LLC acquired a new stake in shares of Workday during the first quarter worth $31,000. Banco de Sabadell S.A acquired a new stake in shares of Workday during the second quarter worth $31,000. Carroll Financial Associates Inc. lifted its holdings in shares of Workday by 47.4% during the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock worth $34,000 after buying an additional 54 shares in the last quarter. Finally, Advantage Investment Management LLC raised its stake in Workday by 89.0% in the second quarter. Advantage Investment Management LLC now owns 189 shares of the software maker’s stock valued at $39,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 67.24% of the company’s stock.
In other Workday news, insider Petros Dermetzis sold 6,422 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $208.35, for a total value of $1,338,023.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Duffield sold 286,859 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $174.34, for a total value of $50,010,998.06. The disclosure for this sale can be found here. Insiders sold 863,053 shares of company stock worth $161,631,974 over the last quarter. 29.80% of the stock is currently owned by company insiders.
Shares of NASDAQ:WDAY traded down $2.47 during midday trading on Friday, hitting $167.91. 420,819 shares of the stock were exchanged, compared to its average volume of 2,245,707. The stock has a market capitalization of $39.01 billion, a price-to-earnings ratio of -137.63 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day moving average price is $190.22 and its 200 day moving average price is $198.55. Workday Inc has a 12 month low of $117.72 and a 12 month high of $226.83.
Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 29th. The software maker reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.05). Workday had a negative return on equity of 15.05% and a negative net margin of 15.25%. The firm had revenue of $887.75 million for the quarter, compared to the consensus estimate of $872.44 million. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 32.2% on a year-over-year basis. As a group, sell-side analysts expect that Workday Inc will post -1.12 EPS for the current year.
WDAY has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Workday from $212.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Mizuho set a $225.00 price target on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Monness Crespi & Hardt set a $262.00 price target on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Compass Point initiated coverage on Workday in a research note on Tuesday, August 13th. They issued a “buy” rating and a $238.00 price target for the company. Finally, Citigroup raised Workday from a “sell” rating to a “neutral” rating and boosted their price target for the company from $138.00 to $192.00 in a research note on Friday, August 30th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $212.45.
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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