Prospera Financial Services Inc Raises Stake in Workday, Inc. $WDAY

Prospera Financial Services Inc increased its stake in Workday, Inc. (NASDAQ:WDAY) by 114.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,836 shares of the software maker’s stock after buying an additional 6,838 shares during the quarter. Prospera Financial Services Inc’s holdings in Workday were worth $2,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. purchased a new position in shares of Workday in the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday in the 3rd quarter worth about $26,000. LRI Investments LLC purchased a new position in shares of Workday in the 4th quarter worth about $29,000. JPL Wealth Management LLC purchased a new position in shares of Workday in the 3rd quarter worth about $30,000. Finally, eCIO Inc. purchased a new position in shares of Workday in the 4th quarter worth about $36,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robert Enslin sold 5,373 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the sale, the insider directly owned 165,414 shares in the company, valued at $21,406,225.74. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark S. Garfield sold 1,585 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the sale, the chief accounting officer owned 31,467 shares in the company, valued at approximately $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 989,814 shares of company stock worth $131,576,291 in the last ninety days. 18.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. BTIG Research reissued a “buy” rating and issued a $175.00 price target on shares of Workday in a report on Monday, May 18th. Robert W. Baird set a $195.00 price target on shares of Workday in a report on Tuesday, February 24th. Sanford C. Bernstein reissued an “outperform” rating and issued a $216.00 price target on shares of Workday in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Workday from $265.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Finally, DA Davidson set a $135.00 price objective on Workday in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $188.03.

Workday Trading Down 3.2%

Shares of Workday stock opened at $124.02 on Wednesday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $257.09. The stock’s 50-day simple moving average is $125.61 and its 200 day simple moving average is $167.29. The stock has a market capitalization of $31.87 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.32 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business posted $2.23 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Workday, Inc. will post 5.12 EPS for the current year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.