IFP Advisors Inc Grows Stake in Workday, Inc. (NASDAQ:WDAY)

IFP Advisors Inc boosted its position in Workday, Inc. (NASDAQ:WDAY) by 54.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,507 shares of the software maker’s stock after purchasing an additional 883 shares during the period. IFP Advisors Inc’s holdings in Workday were worth $647,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares in 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 valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its holdings in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 433,321 shares of company stock valued at $111,763,803. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 1.1 %

Shares of NASDAQ:WDAY opened at $263.34 on Friday. 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 52-week low of $199.81 and a 52-week high of $296.44. The company has a 50 day moving average of $259.69 and a two-hundred day moving average of $254.65. The company 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.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on WDAY. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, KeyCorp raised their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

About Workday

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.