Integrated Advisors Network LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Integrated Advisors Network LLC lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 88.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,276 shares of the software maker’s stock after purchasing an additional 1,538 shares during the quarter. Integrated Advisors Network LLC’s holdings in Workday were worth $765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Union Bancaire Privee UBP SA purchased a new stake in Workday in the fourth quarter worth $8,984,000. Brighton Jones LLC raised its stake in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Workday by 70.2% during the 4th quarter. Sentry Investment Management LLC now owns 2,663 shares of the software maker’s stock valued at $687,000 after purchasing an additional 1,098 shares during the last quarter. Metis Global Partners LLC raised its stake in Workday by 68.4% in the fourth quarter. Metis Global Partners LLC now owns 10,266 shares of the software maker’s stock valued at $2,649,000 after buying an additional 4,168 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Workday in the 4th quarter valued at approximately $4,712,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,338 shares of company stock worth $56,281,251. 19.31% of the stock is currently owned by insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $244.54 on Friday. The stock’s 50-day moving average is $245.50 and its two-hundred day moving average is $252.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.74 earnings per share. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WDAY. Morgan Stanley set a $255.00 price objective on Workday and gave the stock an “equal weight” rating in a research note on Friday, May 23rd. Canaccord Genuity Group boosted their price target on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Loop Capital reduced their target price on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Finally, Citigroup lowered shares of Workday from a “neutral” rating to a “mixed” rating in a report on Friday, May 16th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $293.54.

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.