Delta Financial Advisors LLC Makes New $1.13 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Delta Financial Advisors LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel.com reports. The fund purchased 4,380 shares of the software maker’s stock, valued at approximately $1,130,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marcum Wealth LLC raised its stake in Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares in the last quarter. Custom Index Systems LLC raised its stake in Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. raised its stake in 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 in the last quarter. Kingsview Wealth Management LLC raised its stake in 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 in the last quarter. Finally, Fulton Bank N.A. raised its stake in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock valued at $954,000 after buying an additional 48 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WDAY shares. Oppenheimer restated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Thursday, February 6th. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. The Goldman Sachs Group increased their price target on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $291.11.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $255.22 on Wednesday. The stock has a fifty day moving average price of $259.97 and a two-hundred day moving average price of $254.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $67.89 billion, a P/E ratio of 42.33, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results 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 net margin of 19.86% and a return on equity of 6.13%. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

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.