Waldron Private Wealth LLC Increases Position in Workday, Inc. (NASDAQ:WDAY)

Waldron Private Wealth LLC grew its stake in Workday, Inc. (NASDAQ:WDAY) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,691 shares of the software maker’s stock after acquiring an additional 40 shares during the quarter. Waldron Private Wealth LLC’s holdings in Workday were worth $1,294,000 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. ORG Partners LLC grew its stake in Workday by 1.2% during the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after buying an additional 34 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares during the last quarter. Meitav Investment House Ltd. grew its stake in Workday by 2.6% during the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares during the last quarter. Cigna Investments Inc. New grew its stake in Workday by 1.7% during the 4th quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock worth $598,000 after buying an additional 37 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in Workday by 6.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 742 shares of the software maker’s stock worth $168,000 after buying an additional 44 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY stock traded up $1.81 during midday trading on Monday, reaching $265.50. 109,357 shares of the company traded hands, compared to its average volume of 1,773,051. The firm’s 50 day simple moving average is $282.11 and its two-hundred day simple moving average is $261.42. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $70.09 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 6.59 and a beta of 1.32.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm earned ($0.14) EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the sale, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $28,404,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the sale, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $28,404,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders sold 379,691 shares of company stock worth $102,897,729 in the last ninety days. Insiders own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup boosted their price target on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. KeyCorp increased their target price on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. BMO Capital Markets upped their price target on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC increased their price objective on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $293.61.

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.