New World Advisors LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

New World Advisors LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 16.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,654 shares of the software maker’s stock after purchasing an additional 238 shares during the quarter. New World Advisors LLC’s holdings in Workday were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Simplicity Wealth LLC lifted its holdings in shares of 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 buying an additional 37 shares in the last quarter. AllSquare Wealth Management LLC grew its stake in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after acquiring an additional 41 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after acquiring an additional 43 shares during the last quarter. Salvus Wealth Management LLC lifted its stake in Workday by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker’s stock worth $387,000 after purchasing an additional 45 shares in the last quarter. Finally, Ashton Thomas Securities LLC lifted its stake in Workday by 3.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock worth $385,000 after purchasing an additional 46 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 2.4%

NASDAQ:WDAY opened at $233.46 on Thursday. The company has a market cap of $62.33 billion, a price-to-earnings ratio of 128.98, a price-to-earnings-growth ratio of 3.61 and a beta of 1.24. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $247.33 and a 200-day simple moving average of $251.41.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. Analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value 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. The trade was a 22.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,762 shares of company stock worth $41,995,382. 19.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Westpark Capital raised their price objective on Workday from $315.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Loop Capital cut their price target on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on Workday from $360.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup lowered shares of Workday from a “neutral” rating to a “mixed” rating in a report on Friday, May 16th. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $297.68.

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.