Boomfish Wealth Group LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Boomfish Wealth Group LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 17.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,709 shares of the software maker’s stock after buying an additional 1,475 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Workday were worth $2,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management raised its holdings in shares of Workday by 2.4% in the 2nd quarter. OFI Invest Asset Management now owns 4,333 shares of the software maker’s stock valued at $904,000 after purchasing an additional 103 shares in the last quarter. Hoylecohen LLC boosted its position in shares of Workday by 0.8% during the 2nd quarter. Hoylecohen LLC now owns 12,507 shares of the software maker’s stock worth $2,796,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Workday by 25.2% in the 2nd quarter. Blue Trust Inc. now owns 1,661 shares of the software maker’s stock valued at $371,000 after acquiring an additional 334 shares during the last quarter. Swedbank AB increased its holdings in shares of Workday by 1.1% in the 2nd quarter. Swedbank AB now owns 81,179 shares of the software maker’s stock valued at $18,148,000 after acquiring an additional 863 shares during the last quarter. Finally, Cigna Investments Inc. New raised its position in shares of Workday by 3.5% during the 2nd quarter. Cigna Investments Inc. New now owns 2,201 shares of the software maker’s stock worth $492,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Workday stock traded up $0.18 during mid-day trading on Friday, reaching $231.74. The company had a trading volume of 1,580,288 shares, compared to its average volume of 2,164,029. The stock’s 50-day simple moving average is $221.01 and its 200-day simple moving average is $249.84. The company has a market capitalization of $61.41 billion, a P/E ratio of 41.75, a P/E/G ratio of 5.62 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping 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 return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. On average, equities analysts predict that Workday, Inc. will post 2.12 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent analyst reports. Loop Capital reduced their price objective on shares of Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. UBS Group decreased their price objective on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Stifel Nicolaus cut their target price on Workday from $290.00 to $250.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company decreased their target price on Workday from $275.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group cut their price target on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $279.22.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $21,658,209.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $21,658,209.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The disclosure for this sale can be found here. Insiders have sold 524,672 shares of company stock worth $115,938,834 in the last three months. Corporate insiders own 20.00% of the company’s stock.

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.