Plato Investment Management Ltd Buys 496 Shares of Workday, Inc. (NASDAQ:WDAY)

Plato Investment Management Ltd increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,640 shares of the software maker’s stock after acquiring an additional 496 shares during the quarter. Plato Investment Management Ltd’s holdings in Workday were worth $1,720,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of Workday during the 4th quarter worth about $26,000. Roxbury Financial LLC acquired a new stake in Workday in the 4th quarter worth about $25,000. Avion Wealth raised its stake in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Workday in the 3rd quarter worth about $26,000. Finally, Meeder Asset Management Inc. raised its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 3.3 %

WDAY opened at $254.57 on Tuesday. The company’s 50 day moving average price is $259.48 and its two-hundred day moving average price is $255.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 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 during the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction 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. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,374 shares of company stock valued at $95,786,918. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. KeyCorp lifted their price objective on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Guggenheim reiterated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Loop Capital boosted their target price on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

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.