Assetmark Inc. Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Assetmark Inc. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 33,872 shares of the software maker’s stock after acquiring an additional 1,404 shares during the period. Assetmark Inc.’s holdings in Workday were worth $8,740,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WDAY. Roxbury Financial LLC purchased a new stake in shares of Workday in the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of Workday in the 3rd quarter valued at about $26,000. Crews Bank & Trust purchased a new position in Workday in the fourth quarter worth $26,000. Avion Wealth grew its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% during 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Daiwa America raised shares of Workday to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Citigroup dropped their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group upped their price target on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $252.38 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $258.39 and its two-hundred day moving average is $255.61. The firm has a market capitalization of $67.13 billion, a P/E ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 435,829 shares of company stock valued at $113,033,319 over the last quarter. Company insiders own 20.00% of the company’s stock.

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.