Promus Capital LLC Takes $118,000 Position in Workday, Inc. (NASDAQ:WDAY)

Promus Capital LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 456 shares of the software maker’s stock, valued at approximately $118,000.

Other large investors also recently modified their holdings of the company. Roxbury Financial LLC bought a new position in shares of Workday in the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter worth $26,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth $26,000. Avion Wealth lifted its holdings in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ:WDAY opened at $259.61 on Thursday. The firm has a market capitalization of $69.06 billion, a price-to-earnings ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The stock has a fifty day moving average of $258.98 and a 200 day moving average of $255.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of Workday 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 sale, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,829 shares of company stock valued at $113,033,319. Company insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on WDAY. Guggenheim reiterated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Scotiabank lifted their price target on Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Workday 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.