Kestra Investment Management LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

Kestra Investment Management LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 368 shares of the software maker’s stock, valued at approximately $95,000.

Several other large investors also recently made changes to their positions in WDAY. Bristlecone Advisors LLC boosted its stake in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after purchasing an additional 968 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new position in Workday during the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its position in Workday by 32.4% during the third 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. Finally, Nordea Investment Management AB boosted its position in shares of Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Piper Sandler restated a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $291.11.

Insider Buying and Selling at Workday

In related news, 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 sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. 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.

Workday Trading Up 0.2 %

Workday stock opened at $261.63 on Friday. The firm has a 50 day moving average of $261.10 and a 200 day moving average of $252.54. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 43.39, a P/E/G ratio of 3.62 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

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.