Meeder Advisory Services Inc. Has $1.17 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Meeder Advisory Services Inc. grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,531 shares of the software maker’s stock after acquiring an additional 203 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Workday were worth $1,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the last quarter. State Street Corp grew its holdings in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares during the period. Geode Capital Management LLC raised its position in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Workday by 5.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after purchasing an additional 136,211 shares during the period. Finally, Norges Bank bought a new stake in shares of Workday during the 4th quarter valued at about $645,710,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.87, for a total transaction of $14,216,720.00. Following the sale, the insider now directly owns 116,000 shares of the company’s stock, valued at $29,448,920. This represents a 32.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 429,316 shares of company stock worth $108,168,536 in the last quarter. Insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WDAY. Canaccord Genuity Group lifted their target price on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Piper Sandler increased their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Oppenheimer upped their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Workday Stock Up 0.4 %

Shares of NASDAQ:WDAY opened at $235.39 on Thursday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market capitalization of $62.61 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business has a fifty day moving average price of $255.66 and a two-hundred day moving average price of $254.45. 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 (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.