ClariVest Asset Management LLC purchased a new position in Workday Inc (NASDAQ:WDAY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 105,772 shares of the software maker’s stock, valued at approximately $20,397,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of Workday by 0.8% during the third quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock worth $1,840,044,000 after acquiring an additional 98,167 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Workday by 1,773.5% during the fourth quarter. Advisors Asset Management Inc. now owns 3,185 shares of the software maker’s stock worth $509,000 after acquiring an additional 3,015 shares during the period. Chartwell Investment Partners LLC bought a new stake in shares of Workday during the fourth quarter worth approximately $1,420,000. ETF Managers Group LLC boosted its holdings in shares of Workday by 18.7% during the fourth quarter. ETF Managers Group LLC now owns 1,041 shares of the software maker’s stock worth $166,000 after acquiring an additional 164 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Workday by 23.5% during the fourth quarter. M&T Bank Corp now owns 20,777 shares of the software maker’s stock worth $3,318,000 after acquiring an additional 3,959 shares during the period. 65.97% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on WDAY. JMP Securities restated an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Workday in a report on Wednesday, May 29th. Credit Suisse Group boosted their price target on Workday from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Exane BNP Paribas started coverage on Workday in a research note on Friday, March 29th. They issued an “underperform” rating for the company. BNP Paribas started coverage on Workday in a research note on Friday, March 29th. They issued an “underperform” rating and a $125.00 price target for the company. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price target (up from $220.00) on shares of Workday in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Workday has an average rating of “Hold” and an average price target of $206.32.
Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, May 28th. The software maker reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.03). The firm had revenue of $825.10 million for the quarter, compared to analyst estimates of $814.21 million. Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, analysts forecast that Workday Inc will post -1.06 EPS for the current year.
In other news, Director David A. Duffield sold 258,774 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $193.25, for a total transaction of $50,008,075.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aneel Bhusri sold 17,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $193.00, for a total transaction of $3,329,250.00. The disclosure for this sale can be found here. Insiders have sold 812,640 shares of company stock valued at $159,908,456 over the last quarter. Company insiders own 29.80% of the company’s stock.
Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.
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