Wallace Advisory Group LLC Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Wallace Advisory Group LLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 60.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,006 shares of the software maker’s stock after buying an additional 1,133 shares during the quarter. Wallace Advisory Group LLC’s holdings in Workday were worth $735,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Workday in the third quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. True Wealth Design LLC grew its stake in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the period. New Millennium Group LLC grew its stake in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Workday in the second quarter worth $35,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $246.00 on Tuesday. The stock’s fifty day moving average is $262.65 and its two-hundred day moving average is $246.28. The company has a market capitalization of $65.44 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 EPS. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts expect that Workday, Inc. will post 2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on WDAY shares. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Loop Capital lowered their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Insiders Place Their Bets

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 382,347 shares of company stock worth $99,225,903. 20.00% of the stock is currently owned by company insiders.

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.