Workday, Inc. (NASDAQ:WDAY) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC boosted its position in Workday, Inc. (NASDAQ:WDAY) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,566 shares of the software maker’s stock after acquiring an additional 360 shares during the quarter. HB Wealth Management LLC’s holdings in Workday were worth $1,952,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its stake in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP acquired a new stake in shares of Workday during the third quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley raised their target price on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Bank of America cut their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Barclays cut their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Trading Down 0.4 %

Workday stock opened at $249.64 on Monday. The firm’s 50-day moving average is $262.40 and its 200-day moving average is $246.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a market cap of $66.40 billion, a P/E ratio of 41.40, a PEG ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Workday, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 in the last quarter. Company insiders own 20.00% 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.