Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,157 shares of the software maker’s stock after buying an additional 278 shares during the period. Concurrent Investment Advisors LLC’s holdings in Workday were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Advyzon Investment Management LLC acquired a new position in Workday during the fourth quarter worth about $292,000. Ieq Capital LLC boosted its position in Workday by 27.1% during the fourth quarter. Ieq Capital LLC now owns 24,080 shares of the software maker’s stock worth $6,213,000 after acquiring an additional 5,135 shares during the last quarter. Private Advisor Group LLC boosted its position in Workday by 10.4% during the fourth quarter. Private Advisor Group LLC now owns 7,742 shares of the software maker’s stock worth $1,998,000 after acquiring an additional 729 shares during the last quarter. Lyell Wealth Management LP boosted its position in Workday by 0.6% during the fourth quarter. Lyell Wealth Management LP now owns 91,466 shares of the software maker’s stock worth $23,601,000 after acquiring an additional 538 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Workday during the fourth quarter worth about $95,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on 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 directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Workday stock opened at $261.81 on Tuesday. The firm has a market cap of $69.64 billion, a PE ratio of 43.42, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $260.42 and its two-hundred day moving average is $253.82.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WDAY shares. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Thursday, February 6th. Finally, Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.11.

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.