Envestnet Portfolio Solutions Inc. Grows Position in Workday, Inc. (NASDAQ:WDAY)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,750 shares of the software maker’s stock after buying an additional 306 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Workday were worth $4,580,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WDAY. Roxbury Financial LLC purchased a new stake in shares of Workday during the fourth quarter valued at $25,000. Crews Bank & Trust purchased a new stake in shares of Workday during the fourth quarter valued at $26,000. Avion Wealth lifted its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Finally, New Millennium Group LLC lifted its holdings in 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 during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WDAY shares. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Performance

NASDAQ WDAY opened at $251.91 on Wednesday. The stock has a market capitalization of $67.01 billion, a PE ratio of 41.78, a P/E/G ratio of 3.55 and a beta of 1.38. The business has a 50 day simple moving average of $256.89 and a two-hundred day simple moving average of $255.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

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

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday 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 transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock worth $120,614,400 in the last quarter. 20.00% of the stock is 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.