Mendel Money Management Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

Mendel Money Management raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,838 shares of the software maker’s stock after acquiring an additional 1,135 shares during the period. Workday makes up about 1.5% of Mendel Money Management’s holdings, making the stock its 23rd largest holding. Mendel Money Management’s holdings in Workday were worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in 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 acquiring an additional 4,517,272 shares during the last quarter. Parnassus Investments LLC increased its holdings in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Raymond James Financial Inc. bought a new position in Workday during the fourth quarter valued at approximately $194,679,000. Two Sigma Advisers LP grew its holdings in Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Workday by 62.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after acquiring an additional 524,799 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $252.83 on Wednesday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock has a market capitalization of $67.25 billion, a PE ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $256.97 and a two-hundred day moving average of $255.03.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,001 shares of company stock worth $105,735,200 in the last ninety days. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WDAY shares. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Canaccord Genuity Group increased their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Loop Capital lifted their price target on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Company 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.