844 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC acquired a new position in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 844 shares of the software maker’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Wellington Management Group LLP boosted its position in shares of Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC grew its holdings in Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after purchasing an additional 1,000,922 shares during the period. Morgan Stanley grew its holdings in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares during the period. Alkeon Capital Management LLC acquired a new position in shares of Workday in the third quarter valued at approximately $107,425,000. Finally, Invesco Ltd. boosted its holdings in shares of Workday by 22.1% in the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock valued at $387,205,000 after buying an additional 326,283 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on WDAY shares. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. Barclays cut their target price on shares of Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Piper Sandler restated an “overweight” rating and issued a $330.00 price target on shares of Workday in a research report on Monday, February 26th. Citigroup boosted their price target on shares of Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Finally, KeyCorp boosted their price target on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

Workday Price Performance

Shares of Workday stock traded down $5.75 on Monday, reaching $250.03. The stock had a trading volume of 1,789,705 shares, compared to its average volume of 1,828,099. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The company has a market cap of $66.01 billion, a P/E ratio of 48.59, a price-to-earnings-growth ratio of 6.39 and a beta of 1.33. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $268.07 and its two-hundred day moving average is $265.53.

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

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. Insiders own 21.09% of the company’s stock.

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.