FFT Wealth Management LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

FFT Wealth Management LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,306 shares of the software maker’s stock, valued at approximately $337,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Marcum Wealth LLC lifted its position in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares in the last quarter. Custom Index Systems LLC raised its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

NASDAQ WDAY opened at $255.22 on Wednesday. The company’s 50 day simple moving average is $259.97 and its two-hundred day simple moving average is $254.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market capitalization of $67.89 billion, a PE ratio of 42.33, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup dropped their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Scotiabank started coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.11.

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.