Lake Street Advisors Group LLC Acquires 350 Shares of Workday, Inc. (NASDAQ:WDAY)

Lake Street Advisors Group LLC raised its stake in Workday, Inc. (NASDAQ:WDAY) by 26.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,658 shares of the software maker’s stock after acquiring an additional 350 shares during the period. Lake Street Advisors Group LLC’s holdings in Workday were worth $428,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kirtland Hills Capital Management LLC boosted its stake in Workday by 12.8% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,497 shares of the software maker’s stock worth $644,000 after purchasing an additional 283 shares during the period. FFT Wealth Management LLC bought a new stake in shares of Workday in the fourth quarter valued at about $337,000. Delta Financial Advisors LLC acquired a new position in shares of Workday during the fourth quarter worth about $1,130,000. Los Angeles Capital Management LLC grew its holdings in shares of Workday by 47.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 44,857 shares of the software maker’s stock worth $11,574,000 after buying an additional 14,374 shares in the last quarter. Finally, Amalgamated Bank raised its position in Workday by 214.0% in the 4th quarter. Amalgamated Bank now owns 44,049 shares of the software maker’s stock valued at $11,366,000 after buying an additional 30,022 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several research reports. Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp raised their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $260.57 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $298.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $69.31 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35. The stock’s fifty day moving average price is $259.89 and its two-hundred day moving average price is $254.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 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%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 433,321 shares of company stock valued at $111,763,803. 20.00% of the stock is currently owned by company insiders.

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.