Workday, Inc. (NASDAQ:WDAY) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,882 shares of the software maker’s stock after purchasing an additional 177 shares during the quarter. Mission Wealth Management LP’s holdings in Workday were worth $1,374,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WDAY. Simplicity Wealth LLC grew its stake in shares of Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Workday by 1.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after purchasing an additional 43 shares in the last quarter. Salvus Wealth Management LLC increased its holdings in Workday by 2.8% during the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker’s stock worth $387,000 after purchasing an additional 45 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its position in shares of Workday by 3.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock valued at $385,000 after purchasing an additional 46 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Up 0.5%

WDAY stock opened at $245.65 on Tuesday. The firm’s 50-day moving average is $246.20 and its two-hundred day moving average is $252.43. The company has a market capitalization of $65.59 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. 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 announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 earnings per share. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,144 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $25,776,029.22. This trade represents a 40.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,666 shares of company stock worth $38,465,025. 19.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Workday from $310.00 to $275.00 and set a “hold” rating for the company in a research report on Friday, May 23rd. The Goldman Sachs Group raised their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $340.00 target price on shares of Workday in a research note on Friday, May 23rd. Scotiabank dropped their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Friday, May 23rd. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $293.54.

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.