Koshinski Asset Management Inc. Takes $269,000 Position in Workday, Inc. (NASDAQ:WDAY)

Koshinski Asset Management Inc. acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 986 shares of the software maker’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares during the period. Norges Bank purchased a new stake in Workday during the fourth quarter worth approximately $1,491,149,000. Sustainable Growth Advisers LP lifted its stake in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after purchasing an additional 301,463 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Workday by 5.3% during the fourth quarter. Clearbridge Investments LLC now owns 2,260,982 shares of the software maker’s stock worth $624,167,000 after purchasing an additional 114,660 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Workday by 5.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after purchasing an additional 75,903 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ:WDAY traded down $0.61 during trading hours on Thursday, hitting $231.02. The company’s stock had a trading volume of 771,468 shares, compared to its average volume of 2,185,073. The business’s 50-day moving average is $226.41 and its two-hundred day moving average is $259.14. The company has a market capitalization of $61.22 billion, a PE ratio of 41.74, a PEG ratio of 5.94 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, research analysts anticipate that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDAY. Citigroup decreased their target price on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Stifel Nicolaus decreased their target price on Workday from $290.00 to $250.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Canaccord Genuity Group decreased their target price on Workday from $305.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, May 24th. BMO Capital Markets decreased their target price on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Robert W. Baird cut their price target on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $281.44.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,672 shares of company stock worth $115,938,834. 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.