MIG Capital LLC Has $32.31 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

MIG Capital LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 81.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,204 shares of the software maker’s stock after purchasing an additional 56,338 shares during the period. Workday comprises about 3.3% of MIG Capital LLC’s investment portfolio, making the stock its 14th largest position. MIG Capital LLC’s holdings in Workday were worth $32,306,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Norges Bank bought a new stake in Workday in the fourth quarter valued at $645,710,000. Parnassus Investments LLC raised its stake in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Workday in the 4th quarter valued at $194,679,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 4.9 %

WDAY opened at $217.14 on Friday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The firm has a market cap of $57.76 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s fifty day moving average is $254.30 and its two-hundred day moving average is $254.09.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WDAY shares. Loop Capital lifted their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. BNP Paribas upgraded Workday to a “strong-buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Mizuho lifted their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $300.18.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 432,441 shares of company stock worth $108,901,692. 20.00% of the stock is owned by company insiders.

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.