Savvy Advisors Inc. Acquires New Stake in Workday, Inc. (NASDAQ:WDAY)

Savvy Advisors Inc. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,217 shares of the software maker’s stock, valued at approximately $830,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC increased its position in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after acquiring an additional 968 shares during the last quarter. Sanctuary Advisors LLC grew its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after buying an additional 1,978 shares during the period. Nordea Investment Management AB increased its holdings in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in Workday in the fourth quarter worth approximately $369,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock worth $4,349,000 after acquiring an additional 5,519 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Up 0.8 %

WDAY stock opened at $226.51 on Monday. The firm’s fifty day simple moving average is $248.47 and its two-hundred day simple moving average is $252.86. The stock has a market capitalization of $60.25 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. 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 twelve month low of $199.81 and a twelve month high of $294.00.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Monday, March 24th. KeyCorp raised their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their target price on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.18.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,227 shares of company stock worth $77,863,531 in the last three months. Corporate insiders own 20.00% of the company’s stock.

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.