Motley Fool Asset Management LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Motley Fool Asset Management LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,885 shares of the software maker’s stock after purchasing an additional 1,700 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Workday were worth $3,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new position in Workday in the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of Workday during the fourth quarter worth $26,000. Avion Wealth boosted its holdings in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC purchased a new position in shares of Workday in the fourth quarter valued at $35,000. Finally, Rakuten Securities Inc. raised its stake in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after purchasing an additional 66 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,316 shares of company stock valued at $108,168,536. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $235.39 on Thursday. 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 one year low of $199.81 and a one year high of $294.00. The business’s 50 day simple moving average is $255.66 and its two-hundred day simple moving average is $254.45. The stock has a market capitalization of $62.61 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on WDAY shares. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Piper Sandler boosted their price objective on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, KeyCorp boosted their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Ten investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.18.

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.