Procyon Advisors LLC Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Procyon Advisors LLC boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 8,502 shares of the software maker’s stock after acquiring an additional 211 shares during the quarter. Procyon Advisors LLC’s holdings in Workday were worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. State Street Corp boosted its stake in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its holdings in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Workday Trading Down 0.4 %

WDAY opened at $249.64 on Friday. The business has a fifty day moving average price of $262.54 and a 200 day moving average price of $246.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market capitalization of $66.40 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Sell-side analysts expect that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WDAY shares. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Scotiabank started coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Finally, Oppenheimer restated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $292.25.

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.