Workday, Inc. (NASDAQ:WDAY) Holdings Lifted by Financial Advocates Investment Management

Financial Advocates Investment Management increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,747 shares of the software maker’s stock after acquiring an additional 291 shares during the period. Financial Advocates Investment Management’s holdings in Workday were worth $709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its stake in Workday by 218.7% during the fourth quarter. State of Alaska Department of Revenue now owns 24,285 shares of the software maker’s stock valued at $6,266,000 after purchasing an additional 16,664 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Workday by 3.1% during the 4th quarter. Bleakley Financial Group LLC now owns 3,333 shares of the software maker’s stock valued at $860,000 after acquiring an additional 100 shares during the last quarter. Choreo LLC boosted its stake in shares of Workday by 19.0% during the 4th quarter. Choreo LLC now owns 12,436 shares of the software maker’s stock worth $3,257,000 after acquiring an additional 1,986 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Workday by 14.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,896 shares of the software maker’s stock worth $21,964,000 after acquiring an additional 10,560 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Workday by 60.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker’s stock worth $363,000 after purchasing an additional 529 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WDAY shares. Oppenheimer reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Loop Capital dropped their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada raised their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 2.1 %

WDAY opened at $271.89 on Friday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business has a 50 day moving average of $261.64 and a 200-day moving average of $249.91. The stock has a market capitalization of $72.32 billion, a price-to-earnings ratio of 45.09, a P/E/G ratio of 4.73 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. As a group, sell-side analysts anticipate 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.