Financial Advocates Investment Management Has $709,000 Stake in Workday, Inc. (NASDAQ:WDAY)

Financial Advocates Investment Management grew its position in Workday, Inc. (NASDAQ:WDAY) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,747 shares of the software maker’s stock after buying an additional 291 shares during the quarter. Financial Advocates Investment Management’s holdings in Workday were worth $709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Crews Bank & Trust acquired a new position in Workday in the fourth quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. True Wealth Design LLC increased its position in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after acquiring an additional 143 shares in the last quarter. Finally, New Millennium Group LLC increased its position in Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after acquiring an additional 94 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Oppenheimer reiterated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Loop Capital dropped their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley raised their price target on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Price Performance

NASDAQ WDAY opened at $271.89 on Friday. The firm’s 50 day moving average is $261.64 and its 200-day moving average is $249.91. 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 company has a market capitalization of $72.32 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS 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 company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.