Park Avenue Securities LLC Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Park Avenue Securities LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,105 shares of the software maker’s stock after buying an additional 760 shares during the quarter. Park Avenue Securities LLC’s holdings in Workday were worth $2,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Workday during the 4th quarter worth about $545,000. Oak Thistle LLC lifted its stake in shares of Workday by 70.8% during the fourth quarter. Oak Thistle LLC now owns 10,900 shares of the software maker’s stock valued at $2,813,000 after buying an additional 4,519 shares during the period. Define Financial LLC acquired a new stake in Workday during the fourth quarter worth approximately $202,000. SeaCrest Wealth Management LLC grew its stake in Workday by 8.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,228 shares of the software maker’s stock worth $317,000 after acquiring an additional 92 shares during the period. Finally, Wallace Advisory Group LLC raised its holdings in Workday by 60.5% in the 4th quarter. Wallace Advisory Group LLC now owns 3,006 shares of the software maker’s stock valued at $735,000 after acquiring an additional 1,133 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $249.64 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company’s fifty day moving average price is $262.54 and its two-hundred day moving average price is $246.48. The firm has a market capitalization of $66.40 billion, a P/E ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping 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 business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Bank of America dropped their price objective 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. Loop Capital decreased their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

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.