New England Research & Management Inc. Buys 330 Shares of Workday, Inc. (NASDAQ:WDAY)

New England Research & Management Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 11.8% in the 1st quarter, Holdings Channel reports. The firm owned 3,125 shares of the software maker’s stock after acquiring an additional 330 shares during the period. New England Research & Management Inc.’s holdings in Workday were worth $852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Workday in the 4th quarter valued at about $1,491,149,000. Wellington Management Group LLP lifted its holdings in shares of Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the last quarter. Alkeon Capital Management LLC bought a new position in shares of Workday in the 3rd quarter valued at about $107,425,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after acquiring an additional 437,215 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.1 %

NASDAQ WDAY opened at $223.56 on Friday. The company has a market capitalization of $59.24 billion, a PE ratio of 40.28, a P/E/G ratio of 5.64 and a beta of 1.33. The company has a fifty day moving average of $232.50 and a 200 day moving average of $263.40. Workday, Inc. has a 1 year low of $202.01 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WDAY shares. Oppenheimer reduced their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. DA Davidson reduced their price objective on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Bank of America reduced their price objective on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Royal Bank of Canada reduced their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, Jefferies Financial Group reduced their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.11.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now owns 730,000 shares of the company’s stock, valued at $159,563,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now directly owns 730,000 shares in the company, valued at $159,563,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the transaction, the insider now owns 786,000 shares in the company, valued at $164,407,620. The disclosure for this sale can be found here. Insiders sold 448,713 shares of company stock valued at $109,278,793 over the last 90 days. Corporate 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.