Balentine LLC Buys 440 Shares of Workday, Inc. (NASDAQ:WDAY)

Balentine LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 35.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,689 shares of the software maker’s stock after purchasing an additional 440 shares during the period. Balentine LLC’s holdings in Workday were worth $436,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp raised its holdings in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Trading Down 0.7 %

NASDAQ WDAY opened at $269.88 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock’s 50-day moving average is $262.08 and its 200-day moving average is $250.59. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a market cap of $71.79 billion, a P/E ratio of 44.76, a P/E/G ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Wells Fargo & Company boosted their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays dropped their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned 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 $292.43.

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.