Prescott Group Capital Management L.L.C. purchased a new stake in Workday, Inc. (NASDAQ:WDAY – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,829 shares of the software maker’s stock, valued at approximately $2,970,000.
A number of other large investors have also recently added to or reduced their stakes in WDAY. Brighton Jones LLC lifted its stake in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Empowered Funds LLC lifted its stake in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after acquiring an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after acquiring an additional 127 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Workday in the second quarter valued at $281,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Workday by 32.0% during the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Guggenheim reduced their target price on Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Raymond James Financial reiterated a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Weiss Ratings downgraded Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. Wells Fargo & Company reduced their target price on Workday from $255.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.42.
Insiders Place Their Bets
In related news, CAO Mark S. Garfield sold 1,585 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at $3,557,344.35. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 989,814 shares of company stock worth $131,576,291 over the last three months. 18.64% of the stock is currently owned by corporate insiders.
Workday Stock Performance
WDAY opened at $126.61 on Thursday. The business has a fifty day simple moving average of $126.51 and a 200 day simple moving average of $170.40. The company has a market capitalization of $32.54 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $274.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.
Workday (NASDAQ:WDAY – Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. Research analysts expect that Workday, Inc. will post 5.11 EPS for the current year.
Workday Profile
Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.
The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.
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