GraniteShares Advisors LLC Has $878,000 Stake in Workday, Inc. (NASDAQ:WDAY)

GraniteShares Advisors LLC decreased its position in Workday, Inc. (NASDAQ:WDAY) by 11.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,402 shares of the software maker’s stock after selling 429 shares during the period. GraniteShares Advisors LLC’s holdings in Workday were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marcum Wealth LLC boosted its stake in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC lifted its position in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in Workday by 1.3% in the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $255.22 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $67.89 billion, a price-to-earnings ratio of 42.33, a P/E/G ratio of 3.55 and a beta of 1.35. The company’s fifty day moving average is $259.97 and its two-hundred day moving average is $254.12. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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 return on equity of 6.13% and a net margin of 19.86%. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last ninety days. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Redburn Atlantic assumed coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.11.

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 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.