Summit Investment Advisors Inc. Buys 2,443 Shares of Workday, Inc. (NASDAQ:WDAY)

Summit Investment Advisors Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 38.1% during the 4th quarter, HoldingsChannel reports. The firm owned 8,852 shares of the software maker’s stock after acquiring an additional 2,443 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Workday were worth $2,284,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of analyst reports. Oppenheimer raised their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. UBS Group upped their price target on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on shares of Workday from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Piper Sandler upped their target price on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Ten 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 MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $298.75.

Insider Transactions at Workday

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at $2,544,814.67. The trade was a 22.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,724 shares of company stock worth $77,976,126. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $232.34 on Tuesday. The company has a 50 day moving average of $247.59 and a two-hundred day moving average of $252.79. The company has a market cap of $61.80 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY) last announced its 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.