Kornitzer Capital Management Inc. KS Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,053 shares of the software maker’s stock after acquiring an additional 3,350 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Workday were worth $11,109,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter valued at about $25,000. Avion Wealth grew its stake in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Workday during the 3rd quarter worth $26,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WDAY. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Trading Down 0.8 %

Shares of Workday stock opened at $258.05 on Tuesday. 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 twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market capitalization of $68.64 billion, a PE ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The firm’s 50-day moving average price is $262.13 and its 200 day moving average price is $251.80.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share 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 business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated 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 transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by 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.