Carnegie Investment Counsel Buys 915 Shares of Workday, Inc. (NASDAQ:WDAY)

Carnegie Investment Counsel increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 31,071 shares of the software maker’s stock after acquiring an additional 915 shares during the quarter. Carnegie Investment Counsel’s holdings in Workday were worth $8,017,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Workday in the 3rd quarter worth $26,000. Meeder Asset Management Inc. grew its stake in shares of Workday by 42.2% in the 3rd 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. True Wealth Design LLC grew its stake in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. New Millennium Group LLC boosted its holdings in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of Workday in the 2nd quarter worth about $35,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other Workday 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 transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, 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 three months, insiders sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Loop Capital cut their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays lowered their price target 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. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Price Performance

Shares of NASDAQ WDAY opened at $250.70 on Friday. The stock’s 50-day moving average is $262.69 and its two-hundred day moving average is $246.45. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.64 EPS for the current fiscal year.

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.