VELA Investment Management LLC Invests $446,000 in Workday, Inc. (NASDAQ:WDAY)

VELA Investment Management LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,614 shares of the software maker’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. RB Capital Management LLC raised its holdings in shares of Workday by 2.8% in the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock valued at $662,000 after acquiring an additional 76 shares in the last quarter. Private Advisor Group LLC raised its holdings in Workday by 11.8% in the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock worth $601,000 after purchasing an additional 265 shares in the last quarter. MetLife Investment Management LLC bought a new position in Workday in the first quarter worth about $2,974,000. Yousif Capital Management LLC raised its holdings in Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock worth $674,000 after purchasing an additional 74 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Workday by 10.3% in the first quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock worth $812,000 after purchasing an additional 316 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

WDAY stock traded down $4.06 during midday trading on Monday, reaching $259.63. The stock had a trading volume of 1,367,445 shares, compared to its average volume of 1,791,066. The company’s fifty day simple moving average is $282.11 and its 200 day simple moving average is $261.42. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 6.59 and a beta of 1.32. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS. As a group, sell-side analysts predict that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on WDAY. DA Davidson reiterated a “neutral” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. Barclays cut their price objective on shares of Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus upped their price objective on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Mizuho increased their price target on shares of Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Morgan Stanley cut their price target on shares of Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total value of $1,352,600.00. Following the transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total value of $1,352,600.00. Following the sale, the director now directly owns 105,000 shares of the company’s stock, valued at $28,404,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 379,691 shares of company stock worth $102,897,729. Corporate insiders own 21.09% of the company’s stock.

About Workday

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.