Benjamin Edwards Inc. Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Benjamin Edwards Inc. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 11.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,571 shares of the software maker’s stock after acquiring an additional 158 shares during the quarter. Benjamin Edwards Inc.’s holdings in Workday were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bristlecone Advisors LLC raised its stake in Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares in the last quarter. Burns Matteson Capital Management LLC bought a new stake in shares of Workday during the fourth quarter valued at approximately $369,000. Smith Group Asset Management LLC grew its stake in Workday by 9.4% in the fourth quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker’s stock worth $28,129,000 after purchasing an additional 9,324 shares during the period. Swedbank AB raised its holdings in Workday by 17.7% in the fourth quarter. Swedbank AB now owns 97,529 shares of the software maker’s stock worth $25,165,000 after purchasing an additional 14,682 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Workday during the fourth quarter valued at $8,984,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. The trade was a 22.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. Stifel Nicolaus increased their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. KeyCorp lifted their target price on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. BNP Paribas raised Workday to a “strong-buy” rating in a research report on Friday, February 14th. UBS Group boosted their target price on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on Workday from $290.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $293.62.

Workday Price Performance

NASDAQ WDAY opened at $259.01 on Friday. The stock has a market cap of $68.90 billion, a price-to-earnings ratio of 42.95, a PEG ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company’s 50 day moving average is $238.49 and its two-hundred day moving average is $252.22. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.