Institute for Wealth Management LLC. Buys 98 Shares of Workday, Inc. (NASDAQ:WDAY)

Institute for Wealth Management LLC. raised its stake in Workday, Inc. (NASDAQ:WDAY) by 7.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,444 shares of the software maker’s stock after acquiring an additional 98 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Workday were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marcum Wealth LLC increased its stake in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC increased its position in shares of Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares in the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after acquiring an additional 48 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Citigroup decreased their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays decreased their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, 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. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target of $292.25.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 over the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $262.06 on Friday. The company’s 50 day moving average is $261.18 and its 200-day moving average is $248.68. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $69.71 billion, a P/E ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current 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.