Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC boosted its position in Workday, Inc. (NASDAQ:WDAY) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,013 shares of the software maker’s stock after acquiring an additional 9,324 shares during the quarter. Workday accounts for 2.1% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Smith Group Asset Management LLC’s holdings in Workday were worth $28,129,000 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 company. Capital Performance Advisors LLP purchased a new position in Workday in the third quarter valued at about $26,000. Meeder Asset Management Inc. raised its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. New Millennium Group LLC raised its position in Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares during the period. True Wealth Design LLC raised its position in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the period. Finally, Fortitude Family Office LLC raised its position in Workday by 713.6% in the third quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock valued at $44,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by company insiders.

Workday Stock Up 2.4 %

Workday stock opened at $270.43 on Wednesday. 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, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a 50-day simple moving average of $261.22 and a 200-day simple moving average of $248.48. The firm has a market capitalization of $71.93 billion, a P/E ratio of 44.85, a P/E/G ratio of 4.58 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on WDAY. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price 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.