Clearbridge Investments LLC Buys 136,211 Shares of Workday, Inc. (NASDAQ:WDAY)

Clearbridge Investments LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,663,398 shares of the software maker’s stock after buying an additional 136,211 shares during the quarter. Clearbridge Investments LLC owned 1.00% of Workday worth $687,237,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in shares of Workday in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth about $26,000. Avion Wealth increased its holdings in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Workday in the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC boosted its holdings in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Scotiabank cut their price target on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. BMO Capital Markets increased their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Daiwa America raised shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Mizuho increased their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 487,145 shares of company stock valued at $123,289,438 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Workday Trading Down 2.5 %

NASDAQ:WDAY opened at $238.49 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business’s 50-day simple moving average is $256.67 and its 200-day simple moving average is $254.82. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market capitalization of $63.44 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.