Hartford Investment Management Co. Acquires New Position in Workday, Inc. (NASDAQ:WDAY)

Hartford Investment Management Co. acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,168 shares of the software maker’s stock, valued at approximately $3,398,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Sanctuary Advisors LLC grew its holdings in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Bristlecone Advisors LLC grew its holdings in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after purchasing an additional 968 shares during the last quarter. Grafton Street Partners Fund LP bought a new position in shares of Workday during the third quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $257.92 on Thursday. The company’s fifty day moving average is $262.57 and its two-hundred day moving average is $251.13. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market cap of $68.61 billion, a P/E ratio of 42.77, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $0.47 EPS. The company’s revenue was up 15.8% on a year-over-year basis. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Insider Transactions at Workday

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by 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.