Levin Capital Strategies L.P. Invests $414,000 in Workday, Inc. (NASDAQ:WDAY)

Levin Capital Strategies L.P. bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,500 shares of the software maker’s stock, valued at approximately $414,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its position in Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after acquiring an additional 3,260 shares in the last quarter. Morgan Stanley grew its holdings in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Workday in the 3rd quarter valued at $345,000. Assenagon Asset Management S.A. boosted its position in shares of Workday by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock valued at $76,902,000 after purchasing an additional 103,171 shares during the period. Finally, Mariner LLC boosted its position in shares of Workday by 21.1% in the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock valued at $6,081,000 after purchasing an additional 4,927 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays reduced their price target on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC lifted their price objective on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Mizuho boosted their price target on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Wells Fargo & Company boosted their price target on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, BMO Capital Markets boosted their price objective on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.61.

Insider Activity

In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 in the last three months. Company insiders own 21.09% of the company’s stock.

Workday Stock Up 2.0 %

WDAY stock traded up $4.93 during trading on Friday, reaching $255.78. The stock had a trading volume of 3,070,009 shares, compared to its average volume of 1,829,353. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $269.08 and its two-hundred day moving average is $264.57. The company has a market capitalization of $67.53 billion, a price-to-earnings ratio of 49.67, a P/E/G ratio of 6.12 and a beta of 1.33.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm earned ($0.14) EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Workday 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.