Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Wealth Alliance

Wealth Alliance boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 13.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,084 shares of the software maker’s stock after buying an additional 377 shares during the period. Wealth Alliance’s holdings in Workday were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cookson Peirce & Co. Inc. raised its holdings in shares of Workday by 35.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 10,194 shares of the software maker’s stock worth $2,814,000 after purchasing an additional 2,685 shares during the period. United Asset Strategies Inc. purchased a new position in shares of Workday in the 4th quarter worth about $1,492,000. VELA Investment Management LLC purchased a new position in shares of Workday in the 4th quarter worth about $446,000. Capital Analysts LLC raised its holdings in shares of Workday by 9.8% in the 4th quarter. Capital Analysts LLC now owns 472 shares of the software maker’s stock worth $130,000 after purchasing an additional 42 shares during the period. Finally, Aurora Private Wealth Inc. purchased a new position in shares of Workday in the 4th quarter worth about $211,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Needham & Company LLC raised their price objective on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. KeyCorp raised their target price on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. TheStreet upgraded Workday from a “c” rating to a “b-” rating in a report on Monday, February 26th. Citigroup raised their target price on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.61.

Workday Price Performance

Shares of WDAY opened at $257.69 on Wednesday. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32. The stock has a 50 day moving average of $280.85 and a 200-day moving average of $262.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52 week low of $174.25 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total value of $1,352,600.00. Following the sale, the director now owns 105,000 shares of the company’s stock, valued at approximately $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold 379,691 shares of company stock valued at $102,897,729 in the last quarter. Corporate insiders own 21.09% of the company’s stock.

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.