Jackson Square Capital LLC Purchases New Stake in Workday, Inc. (NASDAQ:WDAY)

Jackson Square Capital LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,009 shares of the software maker’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WDAY. Massachusetts Financial Services Co. MA increased its holdings in shares of Workday by 0.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,532 shares of the software maker’s stock valued at $5,708,000 after purchasing an additional 141 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Workday by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 226,117 shares of the software maker’s stock worth $50,552,000 after acquiring an additional 22,290 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Workday by 10.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,424 shares of the software maker’s stock worth $965,000 after acquiring an additional 408 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Workday by 17.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,507 shares of the software maker’s stock worth $784,000 after acquiring an additional 529 shares during the last quarter. Finally, Amalgamated Bank increased its stake in Workday by 3.3% during the second quarter. Amalgamated Bank now owns 14,306 shares of the software maker’s stock worth $3,198,000 after acquiring an additional 455 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WDAY shares. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Loop Capital dropped their price objective on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley lifted their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Scotiabank started coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Stock Performance

Shares of WDAY stock opened at $249.64 on Friday. The stock has a market capitalization of $66.40 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The stock’s 50-day moving average price is $262.40 and its 200 day moving average price is $246.66. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, equities research analysts forecast that Workday, Inc. will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock worth $113,142,592. 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.