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

New England Research & Management Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,125 shares of the software maker’s stock after purchasing an additional 330 shares during the quarter. New England Research & Management Inc.’s holdings in Workday were worth $852,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Workday during the 4th quarter worth approximately $1,491,149,000. Wellington Management Group LLP boosted 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 boosted 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 purchased a new stake in shares of Workday in the 3rd quarter valued at $107,425,000. Finally, Vanguard Group Inc. boosted 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.

Insider Activity

In other news, major shareholder David A. Duffield sold 64,162 shares of Workday stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,981,194.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder David A. Duffield sold 64,162 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,981,194.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.12, for a total value of $15,014,720.00. Following the sale, the insider now owns 899,000 shares in the company, valued at $241,039,880. The disclosure for this sale can be found here. Insiders sold a total of 448,713 shares of company stock worth $109,278,793 in the last three months. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group reduced their price objective on shares of Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Canaccord Genuity Group reduced their target price on shares of Workday from $305.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Robert W. Baird reduced their target price on shares of Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Bank of America reduced their target price on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

Workday Trading Up 0.1 %

Shares of WDAY stock opened at $223.56 on Friday. The stock has a 50-day simple moving average of $232.50 and a 200 day simple moving average of $263.40. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The stock has a market capitalization of $59.24 billion, a P/E ratio of 40.28, a P/E/G ratio of 5.64 and a beta of 1.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

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.