Cigna Investments Inc. New Takes $224,000 Position in Workday, Inc. (WDAY)

Cigna Investments Inc. New acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,762 shares of the software maker’s stock, valued at approximately $224,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Workday by 8.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 250,709 shares of the software maker’s stock worth $25,508,000 after purchasing an additional 19,446 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Workday by 3.2% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 610,443 shares of the software maker’s stock worth $62,106,000 after purchasing an additional 19,122 shares during the last quarter. US Bancorp DE increased its stake in shares of Workday by 7.1% during the 4th quarter. US Bancorp DE now owns 14,841 shares of the software maker’s stock worth $1,511,000 after purchasing an additional 985 shares during the last quarter. National Pension Service increased its stake in shares of Workday by 2.0% during the 4th quarter. National Pension Service now owns 147,624 shares of the software maker’s stock worth $15,019,000 after purchasing an additional 2,871 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Workday during the 4th quarter worth about $4,365,000. Institutional investors own 69.69% of the company’s stock.

WDAY has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective (up from $130.00) on shares of Workday in a research note on Wednesday, February 28th. Canaccord Genuity restated a “buy” rating and set a $145.00 price objective (up from $125.00) on shares of Workday in a research note on Wednesday, February 28th. KeyCorp restated a “buy” rating and set a $140.00 price objective (up from $131.00) on shares of Workday in a research note on Wednesday, February 28th. BidaskClub raised shares of Workday from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, Cleveland Research started coverage on shares of Workday in a report on Wednesday, January 31st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $124.42.

Workday opened at $129.52 on Thursday, according to Marketbeat.com. The stock has a market capitalization of $27.92 billion, a price-to-earnings ratio of -101.98 and a beta of 1.80. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.73. Workday, Inc. has a 12-month low of $92.79 and a 12-month high of $140.00.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 27th. The software maker reported $0.28 EPS for the quarter, beating the consensus estimate of $0.19 by $0.09. The company had revenue of $582.48 million during the quarter, compared to analysts’ expectations of $573.41 million. Workday had a negative net margin of 14.99% and a negative return on equity of 16.31%. research analysts forecast that Workday, Inc. will post -1.24 EPS for the current fiscal year.

In other news, Director David A. Duffield sold 397,053 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $125.96, for a total value of $50,012,795.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robynne Sisco sold 38,750 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $126.10, for a total transaction of $4,886,375.00. The disclosure for this sale can be found here. Insiders sold a total of 673,318 shares of company stock valued at $85,639,988 over the last 90 days. Corporate insiders own 33.59% of the company’s stock.

Workday Company Profile

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.

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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