Tidal Investments LLC Buys 2,896 Shares of Workday, Inc. (NASDAQ:WDAY)

Tidal Investments LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 21.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,442 shares of the software maker’s stock after purchasing an additional 2,896 shares during the period. Tidal Investments LLC’s holdings in Workday were worth $4,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. Geode Capital Management LLC grew its stake in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after purchasing an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. grew its holdings in Workday by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock valued at $911,027,000 after buying an additional 52,104 shares in the last quarter. Finally, FIL Ltd grew its holdings in shares of Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker’s stock valued at $764,575,000 after purchasing an additional 181,899 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $273.84 on Wednesday. The firm has a market cap of $72.84 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 company’s 50 day moving average is $241.93 and its 200 day moving average is $253.91.

Workday (NASDAQ:WDAY) last announced 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). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. 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. Stifel Nicolaus raised their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Scotiabank cut their price target on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, Citigroup downgraded shares of Workday from a “neutral” rating to a “mixed” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $293.62.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 over the last quarter. 19.31% of the stock is owned by corporate insiders.

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.