KRS Capital Management LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

KRS Capital Management LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,245 shares of the software maker’s stock after buying an additional 60 shares during the period. KRS Capital Management LLC’s holdings in Workday were worth $340,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC increased its holdings in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the period. Sound Income Strategies LLC boosted its position in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the period. CVA Family Office LLC bought a new position in Workday during the fourth quarter worth about $33,000. Finally, VisionPoint Advisory Group LLC boosted its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 64,162 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $271.67, for a total value of $17,430,890.54. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,981,194.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 64,162 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $271.67, for a total value of $17,430,890.54. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,981,194.99. The disclosure for this sale can be found here. Insiders have sold a total of 448,713 shares of company stock worth $109,278,793 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Up 0.1 %

Shares of WDAY stock traded up $0.20 during mid-day trading on Friday, reaching $223.56. 2,677,241 shares of the company’s stock traded hands, compared to its average volume of 2,610,670. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28. The company has a market cap of $59.24 billion, a P/E ratio of 40.28, a P/E/G ratio of 5.64 and a beta of 1.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $232.50 and its 200-day moving average price is $263.40.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business posted $0.16 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WDAY shares. Loop Capital cut their target price on shares of Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Mizuho cut their target price on shares of Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Stifel Nicolaus cut their target price on shares of Workday from $290.00 to $250.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Wells Fargo & Company cut their price objective on shares of Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Citigroup cut their price objective on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $282.11.

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.