Concurrent Investment Advisors LLC Acquires 278 Shares of Workday, Inc. (NASDAQ:WDAY)

Concurrent Investment Advisors LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,157 shares of the software maker’s stock after purchasing an additional 278 shares during the period. Concurrent Investment Advisors LLC’s holdings in Workday were worth $557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter valued at approximately $26,000. Roxbury Financial LLC acquired a new stake in Workday in the fourth quarter valued at approximately $25,000. Avion Wealth boosted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter valued at approximately $26,000. Finally, Meeder Asset Management Inc. boosted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by company insiders.

Analyst Ratings Changes

WDAY has been the subject of several recent analyst reports. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Mizuho raised their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Bank of America lowered their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and raised their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $291.11.

Workday Stock Up 2.1 %

WDAY stock opened at $261.81 on Tuesday. The firm has a market cap of $69.64 billion, a PE ratio of 43.42, a P/E/G ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s fifty day moving average is $260.42 and its 200 day moving average is $253.82. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. On average, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

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.