228 Shares in Workday, Inc. (NASDAQ:WDAY) Purchased by Fred Alger Management LLC

Fred Alger Management LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 228 shares of the software maker’s stock, valued at approximately $56,000.

Several other hedge funds have also recently modified their holdings of WDAY. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the period. Diversified Trust Co boosted its holdings in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after buying an additional 47 shares during the last quarter. Opal Wealth Advisors LLC grew its position in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its holdings in Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after buying an additional 48 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. KeyCorp boosted their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Citigroup dropped their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Scotiabank assumed coverage on shares of Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $288.14.

Workday Trading Down 1.3 %

NASDAQ WDAY opened at $249.99 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $248.77 and its two-hundred day simple moving average is $237.30. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market capitalization of $66.25 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 4.96 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Research analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is currently owned by 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.