897 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Krane Funds Advisors LLC

Krane Funds Advisors LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 897 shares of the software maker’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. Crews Bank & Trust acquired a new position in Workday in the 4th quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in Workday in the fourth quarter worth approximately $25,000. Avion Wealth raised its position 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 purchasing an additional 86 shares during the period. TCTC Holdings LLC acquired a new position in shares of Workday in the 4th quarter valued at $35,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Piper Sandler raised their price target on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.18.

Workday Price Performance

Workday stock opened at $217.14 on Monday. The firm has a market capitalization of $57.76 billion, a PE ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm’s 50-day simple moving average is $254.30 and its 200 day simple moving average is $254.12. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,191 shares of company stock valued at $93,098,347 in the last ninety days. Insiders own 20.00% of the company’s stock.

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.