Moors & Cabot Inc. Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Moors & Cabot Inc. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 42.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,182 shares of the software maker’s stock after buying an additional 353 shares during the quarter. Moors & Cabot Inc.’s holdings in Workday were worth $305,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Roxbury Financial LLC acquired a new stake in shares of Workday during the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new stake in shares of Workday during the fourth quarter worth about $26,000. Avion Wealth lifted its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of 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 purchasing an additional 43 shares in the last quarter. Finally, New Millennium Group LLC lifted its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 in the last ninety days. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

Shares of WDAY opened at $244.17 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $64.95 billion, a P/E ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38. The company’s fifty day moving average is $256.91 and its two-hundred day moving average is $255.49. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last announced 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WDAY. Piper Sandler increased their price target on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Barclays reduced their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company raised their target price on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Mizuho raised their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

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.