TCTC Holdings LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

TCTC Holdings LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel reports. The fund purchased 136 shares of the software maker’s stock, valued at approximately $35,000.

Several other hedge funds have also modified their holdings of WDAY. Parnassus Investments LLC lifted its holdings in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after buying an additional 2,078,097 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Workday in the 4th quarter valued at approximately $194,679,000. Two Sigma Advisers LP raised its holdings in Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Workday by 62.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after purchasing an additional 524,799 shares during the last quarter. Finally, KBC Group NV raised its holdings in Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after purchasing an additional 506,812 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WDAY shares. JPMorgan Chase & Co. lifted their price objective on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. UBS Group lifted their price objective on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Mizuho lifted their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $300.36.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value 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 represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 443,329 shares of company stock valued at $114,843,294. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY stock opened at $250.62 on Tuesday. The stock has a 50-day moving average price of $256.84 and a two-hundred day moving average price of $255.38. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.66 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

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.