Howard Capital Management Inc. Acquires 163 Shares of Workday, Inc. (NASDAQ:WDAY)

Howard Capital Management Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,553 shares of the software maker’s stock after purchasing an additional 163 shares during the period. Howard Capital Management Inc.’s holdings in Workday were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Workday by 13.0% in the third quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock valued at $626,000 after purchasing an additional 295 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Workday by 24,593.2% in the 3rd quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock worth $52,628,000 after acquiring an additional 214,453 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Workday by 28.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock worth $361,000 after acquiring an additional 327 shares in the last quarter. Dakota Wealth Management grew its stake in shares of Workday by 16.3% in the 3rd quarter. Dakota Wealth Management now owns 4,091 shares of the software maker’s stock worth $1,000,000 after acquiring an additional 573 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Workday by 27.0% in the 3rd quarter. Ballentine Partners LLC now owns 1,892 shares of the software maker’s stock worth $462,000 after acquiring an additional 402 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

WDAY stock opened at $256.39 on Monday. The firm has a 50 day moving average of $260.75 and a 200-day moving average of $253.47. 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, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market capitalization of $68.20 billion, a P/E ratio of 42.52, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results 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. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WDAY has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Thursday, February 6th. Wells Fargo & Company upped their price objective on 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 upped their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Barclays reduced their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $291.11.

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.