Pinnacle Wealth Planning Services Inc. Has $387,000 Position in Workday, Inc. (NASDAQ:WDAY)

Pinnacle Wealth Planning Services Inc. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,499 shares of the software maker’s stock after buying an additional 215 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Workday were worth $387,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Workday during the 4th quarter valued at $194,679,000. Two Sigma Advisers LP raised its position in Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Workday by 62.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after purchasing an additional 524,799 shares during the last quarter. KBC Group NV raised its position in shares of Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after acquiring an additional 506,812 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Down 2.3 %

WDAY opened at $253.76 on Friday. The stock has a market cap of $67.50 billion, a PE ratio of 42.08, a P/E/G ratio of 3.55 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The business’s fifty day simple moving average is $258.67 and its 200 day simple moving average is $255.48.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus boosted their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Scotiabank boosted their target price on Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction 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 the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is currently owned by insiders.

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.