Cheyne Capital Management bought a new stake in shares of Workday Inc (NASDAQ:WDAY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,000,000 shares of the company’s stock, valued at approximately $1,153,000. Workday accounts for 0.6% of Cheyne Capital Management’s portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates raised its position in shares of Workday by 0.8% in the third quarter. Jennison Associates now owns 9,172,002 shares of the company’s stock valued at $631,584,000 after buying an additional 74,117 shares during the last quarter. Janus Capital Management raised its position in shares of Workday by 692.2% in the third quarter. Janus Capital Management now owns 707,711 shares of the company’s stock valued at $48,733,000 after buying an additional 618,372 shares during the last quarter. Marcus Capital purchased a new position in shares of Workday during the fourth quarter valued at about $2,159,000. KBC Group raised its position in shares of Workday by 8.7% in the third quarter. KBC Group now owns 7,703 shares of the company’s stock valued at $530,000 after buying an additional 619 shares during the last quarter. Finally, Creative Planning raised its position in shares of Workday by 1,197.9% in the fourth quarter. Creative Planning now owns 6,230 shares of the company’s stock valued at $496,000 after buying an additional 5,750 shares during the last quarter.

Workday Inc (NASDAQ:WDAY) opened at 64.50 on Thursday. Workday Inc has a 12-month low of $62.82 and a 12-month high of $95.17. The stock’s market cap is $12.51 billion. The stock has a 50 day moving average price of $75.01 and a 200 day moving average price of $77.67.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, November 19th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.37. During the same period last year, the business earned ($0.03) EPS. The firm earned $305.30 million during the quarter, compared to analysts’ expectations of $303.50 million. Workday’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, analysts forecast that Workday Inc will post ($0.05) earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on WDAY shares. Brean Capital started coverage on Workday in a report on Tuesday, January 12th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Workday from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Wednesday, October 7th. restated a “buy” rating and issued a $103.00 target price (up previously from $90.00) on shares of Workday in a report on Wednesday, November 25th. Wunderlich restated a “hold” rating and issued a $88.00 target price on shares of Workday in a report on Thursday, October 1st. Finally, Vetr lowered Workday from a “strong-buy” rating to a “buy” rating and set a $90.00 target price on the stock. in a report on Monday, November 9th. Seventeen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.97.

In other Workday news, major shareholder David A. Duffield sold 200,000 shares of the stock in a transaction on Monday, November 30th. The stock was sold at an average price of $83.32, for a total value of $16,664,000.00. Following the completion of the sale, the insider now owns 150,525 shares in the company, valued at approximately $12,541,743. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David A. Duffield sold 2,087 shares of the stock in a transaction on Monday, November 16th. The stock was sold at an average price of $79.13, for a total value of $165,144.31. Following the completion of the sale, the chairman now owns 150,525 shares of the company’s stock, valued at approximately $11,911,043.25. The disclosure for this sale can be found here.

Workday, Inc. is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for a range of companies, educational institutions and government agencies. The Company’s applications include Workday Financial Management, Workday Human Capital Management (NASDAQ:WDAY) and Workday Insight Applications. Workday Financial Management is a unified application built on a single, global core with a range of financial capabilities, relevant analytics and metrics, and an auditable process management built to help manage financial processes for global organizations. Workday HCM enables an organization to staff, pay, organize, and develop its global workforce. Workday Insight Applications is a suite of applications that leverage advanced data science and machine learning methodologies to help customers make financial and workforce decisions.

12 Month Chart for NASDAQ:WDAY

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