Summit Trail Advisors LLC Has $484,000 Holdings in Workday, Inc. (NASDAQ:WDAY)

Summit Trail Advisors LLC boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 74.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,877 shares of the software maker’s stock after buying an additional 799 shares during the period. Summit Trail Advisors LLC’s holdings in Workday were worth $484,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Workday during the third quarter worth $26,000. Crews Bank & Trust bought a new position in shares of Workday in the 4th quarter valued at $26,000. Meeder Asset Management Inc. raised its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Mizuho boosted their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Loop Capital cut their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.43.

Workday Price Performance

WDAY stock opened at $263.00 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company’s 50-day moving average is $262.45 and its 200-day moving average is $250.89. The stock has a market capitalization of $69.96 billion, a PE ratio of 43.62, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate insiders.

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.