Prudential Financial Inc. Acquires 15,307 Shares of Workday, Inc. (NASDAQ:WDAY)

Prudential Financial Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 8.7% in the 4th quarter, Holdings Channel reports. The fund owned 190,762 shares of the software maker’s stock after purchasing an additional 15,307 shares during the quarter. Prudential Financial Inc.’s holdings in Workday were worth $49,222,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WDAY. Vanguard Group Inc. increased its stake in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Parnassus Investments LLC increased its position in shares of 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. Raymond James Financial Inc. acquired a new stake in shares of Workday during the fourth quarter worth $194,679,000. Two Sigma Advisers LP lifted its position in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $350,921,000 after acquiring an additional 524,799 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WDAY shares. Stifel Nicolaus lifted their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Daiwa America raised shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Scotiabank cut their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Oppenheimer raised their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,001 shares of company stock valued at $105,735,200 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 1.2 %

Shares of WDAY opened at $252.83 on Wednesday. The firm has a market cap of $67.25 billion, a P/E ratio of 41.93, 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. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm’s 50-day simple moving average is $256.97 and its 200 day simple moving average is $255.03.

Workday (NASDAQ:WDAY) last posted its 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). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current 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.