Summit Trail Advisors LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Summit Trail Advisors LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 74.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,877 shares of the software maker’s stock after purchasing an additional 799 shares during the quarter. Summit Trail Advisors LLC’s holdings in Workday were worth $484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marcum Wealth LLC lifted its position in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. Kingsview Wealth Management LLC boosted its position in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Finally, Opal Wealth Advisors LLC grew its stake in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 over the last three months. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Morgan Stanley boosted their target price on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Bank of America decreased their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Scotiabank began coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $292.43.

Workday Trading Down 2.5 %

Shares of WDAY stock opened at $263.00 on Wednesday. The company has a market capitalization of $69.96 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The business’s fifty day moving average is $262.45 and its 200 day moving average is $250.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.