Crestwood Advisors Group LLC Grows Position in Workday, Inc. (NASDAQ:WDAY)

Crestwood Advisors Group LLC lifted its position in Workday, Inc. (NASDAQ:WDAY) by 19.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,170 shares of the software maker’s stock after purchasing an additional 684 shares during the period. Crestwood Advisors Group LLC’s holdings in Workday were worth $1,076,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Workday by 54.4% in the fourth quarter. IFP Advisors Inc now owns 2,507 shares of the software maker’s stock valued at $647,000 after acquiring an additional 883 shares during the period. Howard Capital Management Inc. grew its stake in shares of Workday by 3.0% in the fourth quarter. Howard Capital Management Inc. now owns 5,553 shares of the software maker’s stock worth $1,433,000 after purchasing an additional 163 shares during the last quarter. Wealthspire Advisors LLC purchased a new position in Workday during the 4th quarter valued at about $244,000. Olympiad Research LP bought a new position in Workday during the 4th quarter valued at approximately $492,000. Finally, VisionPoint Advisory Group LLC bought a new position in Workday during the 4th quarter valued at approximately $64,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 6,845 shares of the company’s stock, 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. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 in the last 90 days. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

Shares of WDAY opened at $261.81 on Tuesday. The company has a market cap of $69.64 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 3.55 and a beta of 1.35. The business’s fifty day simple moving average is $260.42 and its two-hundred day simple moving average is $253.82. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WDAY shares. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $291.11.

Workday Company 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.