Envestnet Asset Management Inc. Purchases 3,030 Shares of Workday, Inc. (NASDAQ:WDAY)

Envestnet Asset Management Inc. grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 744,658 shares of the software maker’s stock after acquiring an additional 3,030 shares during the period. Envestnet Asset Management Inc.’s holdings in Workday were worth $192,144,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Roxbury Financial LLC bought a new position in Workday during the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter valued at approximately $26,000. Avion Wealth lifted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC bought a new stake in Workday in the fourth quarter valued at $35,000. Finally, Rakuten Securities Inc. increased its position in Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after purchasing an additional 66 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

NASDAQ WDAY opened at $217.14 on Monday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock has a 50-day moving average of $254.30 and a 200 day moving average of $254.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $57.76 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 3,677 shares of Workday stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total transaction of $926,236.30. Following the transaction, the insider now owns 79,576 shares in the company, valued at $20,045,194.40. This represents a 4.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,191 shares of company stock valued at $93,098,347 in the last quarter. 20.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WDAY shares. Daiwa America raised shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. UBS Group upped their target price on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. KeyCorp raised their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average price target of $300.18.

Workday Company 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.