Austin Private Wealth LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Austin Private Wealth LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 18.9% during the 4th quarter, HoldingsChannel reports. The fund owned 8,276 shares of the software maker’s stock after acquiring an additional 1,317 shares during the quarter. Austin Private Wealth LLC’s holdings in Workday were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Sanctuary Advisors LLC grew its stake in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after acquiring an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new position in Workday in the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the period. Nordea Investment Management AB boosted its stake in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the last quarter. Finally, Atria Investments Inc lifted its position in Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WDAY shares. Scotiabank assumed coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Loop Capital reduced their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Workday Stock Up 0.8 %

Workday stock opened at $262.06 on Friday. The stock has a market capitalization of $69.71 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The business has a 50 day simple moving average of $261.18 and a 200-day simple moving average of $248.68. 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 (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS 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 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

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

Workday 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.