Stratos Wealth Partners LTD. purchased a new position in Workday, Inc. (NASDAQ:WDAY – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,229 shares of the software maker’s stock, valued at approximately $278,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in shares of Workday by 9.7% during the 1st quarter. Ballentine Partners LLC now owns 1,502 shares of the software maker’s stock valued at $310,000 after acquiring an additional 133 shares during the last quarter. Cerity Partners LLC lifted its position in Workday by 1,367.6% in the first quarter. Cerity Partners LLC now owns 59,306 shares of the software maker’s stock worth $12,249,000 after buying an additional 55,265 shares during the last quarter. Alta Park Capital LP lifted its position in Workday by 3.1% in the first quarter. Alta Park Capital LP now owns 160,047 shares of the software maker’s stock worth $33,056,000 after buying an additional 4,770 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in Workday in the first quarter worth $1,380,000. Finally, Manchester Capital Management LLC bought a new stake in Workday in the first quarter worth $34,000. 68.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on WDAY. Evercore ISI reduced their target price on Workday from $275.00 to $265.00 in a research note on Monday. StockNews.com initiated coverage on Workday in a research note on Thursday. They set a “buy” rating on the stock. Canaccord Genuity Group raised their price target on Workday from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Bank of America cut their price target on Workday from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Finally, KeyCorp raised their price target on Workday from $290.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $245.82.
Workday Stock Performance
Shares of Workday stock opened at $205.14 on Friday. Workday, Inc. has a 52 week low of $128.72 and a 52 week high of $252.72. The business’s fifty day simple moving average is $233.10 and its 200-day simple moving average is $214.17. The firm has a market cap of $53.75 billion, a PE ratio of -427.38, a price-to-earnings-growth ratio of 6.85 and a beta of 1.25. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47.
Workday (NASDAQ:WDAY – Get Free Report) last announced its quarterly earnings results on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.26 by $0.17. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted ($0.16) EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 1.13 earnings per share for the current year.
Insider Buying and Selling
In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the sale, the director now owns 115,000 shares in the company, valued at approximately $28,865,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $251.00, for a total value of $1,255,000.00. Following the transaction, the director now owns 115,000 shares in the company, valued at approximately $28,865,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach acquired 8,676 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $240.44 per share, for a total transaction of $2,086,057.44. Following the acquisition, the chief executive officer now owns 20,222 shares in the company, valued at approximately $4,862,177.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 113,740 shares of company stock valued at $28,501,311. Corporate insiders own 21.09% of the company’s stock.
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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.
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