Optimize Financial Inc Buys Shares of 806 Workday, Inc. (NASDAQ:WDAY)

Optimize Financial Inc purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 806 shares of the software maker’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new position in Workday during the 4th quarter valued at about $26,000. Roxbury Financial LLC purchased a new position in shares of Workday during the 4th quarter worth approximately $25,000. Avion Wealth increased its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $35,000. Finally, Rakuten Securities Inc. lifted its stake in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock opened at $226.51 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $60.25 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The stock has a 50 day moving average of $248.47 and a 200-day moving average of $252.86.

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

Insider Transactions at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on 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 owns 111,324 shares of the company’s stock, valued at $29,556,522. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,227 shares of company stock valued at $77,863,531. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WDAY. JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, March 24th. Oppenheimer increased their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, KeyCorp increased their target price on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Ten 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 company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $300.18.

About Workday

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.