Workday, Inc. (NASDAQ:WDAY) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 22.5% in the 4th quarter, Holdings Channel reports. The firm owned 66,762 shares of the software maker’s stock after purchasing an additional 12,284 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $17,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp lifted its holdings in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after purchasing an additional 75,747 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Down 0.0 %

Shares of Workday stock opened at $242.93 on Wednesday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $64.62 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $257.71 and its 200-day moving average is $255.90.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. KeyCorp boosted their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the 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 sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

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.