NewEdge Wealth LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

NewEdge Wealth LLC boosted its position in Workday, Inc. (NASDAQ:WDAY) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,952 shares of the software maker’s stock after buying an additional 378 shares during the period. NewEdge Wealth LLC’s holdings in Workday were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its position in shares of Workday by 36.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,667 shares of the software maker’s stock worth $896,000 after purchasing an additional 984 shares in the last quarter. US Bancorp DE boosted its position in shares of Workday by 1.0% during the 3rd quarter. US Bancorp DE now owns 94,308 shares of the software maker’s stock worth $23,050,000 after purchasing an additional 947 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Workday by 19.3% during the 3rd quarter. Stephens Inc. AR now owns 9,441 shares of the software maker’s stock worth $2,307,000 after purchasing an additional 1,528 shares in the last quarter. Americana Partners LLC boosted its position in shares of Workday by 184.6% during the 3rd quarter. Americana Partners LLC now owns 3,947 shares of the software maker’s stock worth $965,000 after purchasing an additional 2,560 shares in the last quarter. Finally, F M Investments LLC boosted its position in shares of Workday by 40.2% during the 3rd quarter. F M Investments LLC now owns 70,360 shares of the software maker’s stock worth $17,196,000 after purchasing an additional 20,190 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Up 1.1 %

WDAY opened at $263.34 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $70.05 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The business has a 50-day moving average of $259.69 and a two-hundred day moving average of $254.92. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 433,321 shares of company stock worth $111,763,803. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WDAY shares. The Goldman Sachs Group boosted their target price on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, UBS Group lifted their price target on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $302.14.

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.