Simon Quick Advisors LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Simon Quick Advisors LLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,377 shares of the software maker’s stock after purchasing an additional 56 shares during the period. Simon Quick Advisors LLC’s holdings in Workday were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WDAY. Capital Performance Advisors LLP purchased a new position in shares of Workday in the 3rd quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in Workday in the 2nd quarter worth approximately $35,000. Meeder Asset Management Inc. increased its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Workday by 177.4% in the third 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. Finally, True Wealth Design LLC boosted its stake in 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 purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WDAY. Loop Capital cut their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Mizuho upped their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company raised their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Finally, Morgan Stanley raised their price target on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $292.25.

Workday Price Performance

Workday stock opened at $255.30 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $261.26 and a 200 day moving average price of $247.31. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The stock has a market cap of $67.91 billion, a P/E ratio of 42.34, a PEG ratio of 4.53 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $0.47 EPS. The business’s 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 year.

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last quarter. 20.00% of the stock is currently owned by company insiders.

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.