VELA Investment Management LLC Has $703,000 Stock Position in Workday, Inc. (NASDAQ:WDAY)

VELA Investment Management LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,725 shares of the software maker’s stock after buying an additional 485 shares during the period. VELA Investment Management LLC’s holdings in Workday were worth $703,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new position in Workday during the 4th quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new position in Workday during the 3rd quarter valued at about $26,000. Crews Bank & Trust acquired a new position in Workday during the 4th quarter valued at about $26,000. Avion Wealth lifted its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 3.9 %

Shares of Workday stock opened at $260.57 on Friday. The business has a fifty day simple moving average of $259.89 and a two-hundred day simple moving average of $254.28. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $298.50. The company has a market capitalization of $69.31 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35. 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 (NASDAQ:WDAY) last announced its quarterly earnings results 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and upped their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group upped their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group upped their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday. Redburn Atlantic initiated coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 433,321 shares of company stock valued at $111,763,803 in the last quarter. 20.00% of the stock is currently owned by insiders.

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.