Hartford Funds Management Co LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Hartford Funds Management Co LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,281 shares of the software maker’s stock after acquiring an additional 132 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Workday were worth $589,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new position in shares of Workday during the fourth quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of Workday during the third quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in shares of Workday during the fourth quarter worth approximately $26,000. Avion Wealth raised its stake in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

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 value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. This represents a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 435,829 shares of company stock valued at $113,033,319 in the last quarter. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of Workday stock opened at $253.76 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $67.50 billion, a P/E ratio of 42.08, a P/E/G ratio of 3.55 and a beta of 1.35. The business has a fifty day simple moving average of $258.67 and a two-hundred day simple moving average of $255.48. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on WDAY. Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Loop Capital raised their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Guggenheim restated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Canaccord Genuity Group raised their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

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.