Brophy Wealth Management LLC Takes $581,000 Position in Workday, Inc. (NASDAQ:WDAY)

Brophy Wealth Management LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,378 shares of the software maker’s stock, valued at approximately $581,000.

A number of other large investors also recently bought and sold shares of WDAY. Capital Performance Advisors LLP purchased a new position in shares of Workday in the third quarter worth about $26,000. SouthState Corp increased its stake in shares of Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Crewe Advisors LLC grew its stake in shares of Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in Workday during the 2nd quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the transaction, the insider now owns 449,000 shares of the company’s stock, valued at $110,166,640. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 361,463 shares of company stock valued at $88,422,088. 20.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Evercore ISI decreased their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Scotiabank began coverage on Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $289.21.

Workday Price Performance

Shares of Workday stock opened at $279.91 on Tuesday. The stock has a market capitalization of $74.18 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 4.91 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm’s 50-day moving average price is $251.13 and its two-hundred day moving average price is $237.53.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts predict that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

About Workday

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.