Procyon Advisors LLC Purchases 62 Shares of Workday, Inc. (NASDAQ:WDAY)

Procyon Advisors LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,564 shares of the software maker’s stock after purchasing an additional 62 shares during the period. Procyon Advisors LLC’s holdings in Workday were worth $2,000,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC boosted its position in shares of 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 buying an additional 968 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of Workday during the 4th quarter worth approximately $369,000. Union Bancaire Privee UBP SA purchased a new position in Workday during the 4th quarter valued at $8,984,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Workday by 6.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,735 shares of the software maker’s stock valued at $13,349,000 after acquiring an additional 3,242 shares during the last quarter. Finally, Choreo LLC grew its position in Workday by 19.0% in the 4th quarter. Choreo LLC now owns 12,436 shares of the software maker’s stock valued at $3,257,000 after acquiring an additional 1,986 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. This represents a 22.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $243.17, for a total value of $3,647,550.00. Following the completion of the transaction, the insider now owns 45,000 shares of the company’s stock, valued at approximately $10,942,650. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,338 shares of company stock worth $59,875,701 over the last 90 days. 19.31% of the stock is currently owned by corporate insiders.

Workday Trading Up 1.0%

NASDAQ:WDAY opened at $252.72 on Friday. The stock has a market capitalization of $67.48 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $242.59 and a 200 day moving average of $253.03.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent analyst reports. DA Davidson boosted their target price on shares of Workday from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, May 23rd. Mizuho decreased their price objective on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target of $293.54.

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.