Quantinno Capital Management LP Acquires 17,892 Shares of Workday, Inc. (NASDAQ:WDAY)

Quantinno Capital Management LP raised its position in shares of Workday, Inc. (NASDAQ:WDAY) by 69.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,739 shares of the software maker’s stock after purchasing an additional 17,892 shares during the quarter. Quantinno Capital Management LP’s holdings in Workday were worth $10,690,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its position in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after acquiring an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP purchased a new stake in shares of Workday in the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its holdings in Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc raised its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after purchasing an additional 7,175 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Morgan Stanley increased 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. Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. BMO Capital Markets restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Finally, StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY opened at $262.70 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a fifty day simple moving average of $249.96 and a 200 day simple moving average of $237.65. The stock has a market capitalization of $69.62 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 4.76 and a beta of 1.34. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. Research analysts forecast that Workday, Inc. will post 2.57 EPS for the current fiscal year.

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.