Palumbo Wealth Management LLC Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Palumbo Wealth Management LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 39.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,551 shares of the software maker’s stock after purchasing an additional 436 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Workday were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Roxbury Financial LLC purchased a new stake in shares of Workday during the 4th quarter valued at about $25,000. Manchester Capital Management LLC grew its stake in shares of Workday by 35.6% during the 4th quarter. Manchester Capital Management LLC now owns 198 shares of the software maker’s stock valued at $51,000 after acquiring an additional 52 shares during the period. Rhumbline Advisers grew its stake in shares of Workday by 48.7% during the 4th quarter. Rhumbline Advisers now owns 381,415 shares of the software maker’s stock valued at $98,416,000 after acquiring an additional 124,907 shares during the period. PUREfi Wealth LLC bought a new position in shares of Workday during the 4th quarter valued at approximately $399,000. Finally, ABC Arbitrage SA bought a new position in shares of Workday during the 4th quarter valued at approximately $1,397,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.8 %

Shares of WDAY stock opened at $258.05 on Friday. The stock has a 50 day moving average of $262.13 and a 200 day moving average of $251.46. 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 stock has a market cap of $68.64 billion, a P/E ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last announced 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. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Loop Capital cut their price objective on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Mizuho boosted their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Oppenheimer reiterated an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Finally, Morgan Stanley upped their price target on Workday from $315.00 to $330.00 and gave the stock 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 assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

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.