Workday, Inc. (NASDAQ:WDAY) Shares Bought by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. grew its position in Workday, Inc. (NASDAQ:WDAY) by 14.4% in the fourth quarter, HoldingsChannel reports. The fund owned 494 shares of the software maker’s stock after acquiring an additional 62 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Workday were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bristlecone Advisors LLC raised its holdings in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC increased its position in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after buying an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new position in shares of Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY stock opened at $259.61 on Thursday. The business’s fifty day moving average price is $258.98 and its 200 day moving average price is $255.49. Workday, Inc. has a 12-month low of $199.81 and a 12-month 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. The company has a market capitalization of $69.06 billion, a PE ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 in the last ninety days. Company insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WDAY shares. KeyCorp increased their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Canaccord Genuity Group raised their target price on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, Bank of America dropped their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

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.