Woodmont Investment Counsel LLC Increases Position in Workday, Inc. (NASDAQ:WDAY)

Woodmont Investment Counsel LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,135 shares of the software maker’s stock after buying an additional 169 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Workday were worth $2,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Beacon Capital Management LLC raised its stake in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its stake in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Workday by 1,750.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Workday in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WDAY shares. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. UBS Group lowered their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. The Goldman Sachs Group lowered their price target on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. TD Cowen lowered their price target on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.11.

Workday Stock Performance

NASDAQ:WDAY traded up $1.29 during trading hours on Tuesday, hitting $226.01. 729,477 shares of the company traded hands, compared to its average volume of 2,213,272. The stock has a market capitalization of $59.89 billion, a price-to-earnings ratio of 40.63, a P/E/G ratio of 5.64 and a beta of 1.35. Workday, Inc. has a twelve month low of $202.01 and a twelve month high of $311.28. The firm has a 50-day moving average of $232.50 and a 200 day moving average of $263.20. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, analysts forecast that Workday, Inc. will post 2.12 EPS for the current year.

Insider Activity

In other news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the transaction, the insider now owns 66,356 shares in the company, valued at approximately $17,797,342.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,551 shares of company stock worth $91,847,903. 20.00% of the stock is currently owned by corporate insiders.

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.