Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Horizon Investments LLC

Horizon Investments LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,149 shares of the software maker’s stock after purchasing an additional 534 shares during the quarter. Horizon Investments LLC’s holdings in Workday were worth $813,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Simplicity Wealth LLC raised its position in Workday by 3.0% in the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after acquiring an additional 37 shares in the last quarter. Marcum Wealth LLC raised its position in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after acquiring an additional 41 shares in the last quarter. Custom Index Systems LLC raised its position in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. raised its position in 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 acquiring an additional 43 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on WDAY. KeyCorp increased their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Guggenheim restated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Finally, Oppenheimer raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares in the company, valued at $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 473,001 shares of company stock valued at $120,614,400 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Up 0.2 %

Shares of NASDAQ:WDAY opened at $252.50 on Thursday. The stock’s 50-day moving average price is $256.84 and its two-hundred day moving average price is $255.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market cap of $67.17 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 3.55 and a beta of 1.38.

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

Workday Company 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.