RFG Advisory LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

RFG Advisory LLC raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,890 shares of the software maker’s stock after buying an additional 193 shares during the period. RFG Advisory LLC’s holdings in Workday were worth $488,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WDAY. Sanctuary Advisors LLC raised its stake 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 acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new stake in Workday in the 3rd quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd raised its position in Workday by 32.4% in 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 purchasing an additional 7,802 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares in the last quarter. Finally, Atria Investments Inc increased its stake in shares of Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WDAY shares. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Morgan Stanley lifted their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Loop Capital dropped their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.25.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents 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 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This trade represents a 40.46 % 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 quarter. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $264.25 on Tuesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market capitalization of $70.29 billion, a P/E ratio of 43.82, a P/E/G ratio of 4.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company’s fifty day moving average is $260.91 and its two-hundred day moving average is $247.93.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

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.