BKS Advisors LLC Takes $395,000 Position in Workday Inc (WDAY)

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BKS Advisors LLC purchased a new position in Workday Inc (NASDAQ:WDAY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,050 shares of the software maker’s stock, valued at approximately $395,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Workday by 0.8% in the third quarter. Vanguard Group Inc. now owns 12,604,769 shares of the software maker’s stock worth $1,840,044,000 after buying an additional 98,167 shares in the last quarter. Vanguard Group Inc raised its stake in Workday by 0.8% in the third quarter. Vanguard Group Inc now owns 12,604,769 shares of the software maker’s stock worth $1,840,044,000 after buying an additional 98,167 shares in the last quarter. Jennison Associates LLC raised its stake in Workday by 6.0% in the fourth quarter. Jennison Associates LLC now owns 8,164,202 shares of the software maker’s stock worth $1,303,660,000 after buying an additional 462,730 shares in the last quarter. Norges Bank bought a new position in Workday in the fourth quarter worth about $198,900,000. Finally, Northern Trust Corp raised its stake in Workday by 6.8% in the fourth quarter. Northern Trust Corp now owns 986,368 shares of the software maker’s stock worth $157,504,000 after buying an additional 62,712 shares in the last quarter. 69.74% of the stock is owned by institutional investors.

WDAY has been the subject of a number of research reports. KeyCorp increased their price target on shares of Workday from $179.00 to $216.00 and gave the stock an “overweight” rating in a research note on Monday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target (up from $170.00) on shares of Workday in a research note on Friday, March 1st. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price target on shares of Workday in a research note on Friday, March 1st. Deutsche Bank increased their price target on shares of Workday from $155.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $220.00 price target on shares of Workday in a research note on Wednesday, February 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $185.69.

Shares of NASDAQ WDAY opened at $195.79 on Wednesday. Workday Inc has a fifty-two week low of $117.24 and a fifty-two week high of $200.00. The company has a market cap of $42.64 billion, a price-to-earnings ratio of -160.48 and a beta of 1.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

In related news, Director David A. Duffield sold 278,758 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $179.40, for a total transaction of $50,009,185.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aneel Bhusri sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $179.58, for a total transaction of $53,874,000.00. The disclosure for this sale can be found here. Insiders have sold 1,067,572 shares of company stock valued at $197,108,849 in the last ninety days. Insiders own 33.59% of the company’s stock.

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About Workday

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to 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, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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