Focus Financial Network Inc. Buys 50 Shares of Workday, Inc. (NASDAQ:WDAY)

Focus Financial Network Inc. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,706 shares of the software maker’s stock after acquiring an additional 50 shares during the quarter. Focus Financial Network Inc.’s holdings in Workday were worth $440,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Workday during the third quarter worth about $26,000. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter worth about $26,000. Meeder Asset Management Inc. raised its position 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 worth $35,000 after acquiring an additional 43 shares during the last quarter. New Millennium Group LLC raised its position in shares of Workday by 177.4% during 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, True Wealth Design LLC increased its holdings 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 in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WDAY. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Mizuho lifted their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.43.

Workday Stock Up 0.9 %

Shares of NASDAQ:WDAY opened at $260.13 on Friday. The stock has a market cap of $69.19 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 3.78 and a beta of 1.35. 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 12-month low of $199.81 and a 12-month high of $311.28. The business’s 50 day moving average is $262.35 and its 200 day moving average is $251.18.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping 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 analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

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.