Pin Oak Investment Advisors Inc. Acquires 85 Shares of Workday, Inc. (NASDAQ:WDAY)

Pin Oak Investment Advisors Inc. boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 55.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237 shares of the software maker’s stock after acquiring an additional 85 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in Workday were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after buying an additional 75,747 shares during the period. MIG Capital LLC acquired a new position in Workday in the third quarter valued at approximately $16,832,000. CreativeOne Wealth LLC acquired a new position in Workday in the third quarter valued at approximately $696,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Workday by 108.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 40,492 shares of the software maker’s stock valued at $9,897,000 after buying an additional 21,028 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in Workday by 4.3% in the third quarter. Glenmede Trust Co. NA now owns 155,344 shares of the software maker’s stock valued at $37,968,000 after buying an additional 6,368 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 6.2 %

NASDAQ:WDAY traded down $16.79 during trading hours on Thursday, reaching $253.40. 13,907,388 shares of the stock were exchanged, compared to its average volume of 1,929,515. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $248.62 and a two-hundred day moving average of $237.33. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market capitalization of $67.15 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 5.36 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.47 EPS. The company’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Friday, September 13th. The Goldman Sachs Group raised their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays lowered their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Company 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.