Opal Wealth Advisors LLC Buys New Stake in Workday, Inc. (NASDAQ:WDAY)

Opal Wealth Advisors LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 742 shares of the software maker’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WDAY. Norges Bank bought a new stake in Workday during the fourth quarter worth about $1,491,149,000. Wellington Management Group LLP lifted its position in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC lifted its position in shares of Workday by 76.4% during the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after purchasing an additional 1,000,922 shares in the last quarter. Morgan Stanley lifted its holdings in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the period. Finally, Alkeon Capital Management LLC acquired a new position in Workday in the third quarter valued at approximately $107,425,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WDAY. The Goldman Sachs Group cut their price objective on shares of Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 24th. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 24th. Wells Fargo & Company cut their price objective on shares of Workday from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday. Sanford C. Bernstein cut their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Finally, Piper Sandler cut their target price on shares of Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.11.

Workday Stock Down 0.5 %

Workday stock opened at $218.02 on Monday. The company has a market cap of $57.78 billion, a P/E ratio of 39.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.33. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28. The company has a fifty day simple moving average of $236.14 and a 200 day simple moving average of $265.15. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. Research analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 64,162 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $271.67, for a total value of $17,430,890.54. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $27,981,194.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.12, for a total value of $15,014,720.00. Following the completion of the sale, the insider now owns 899,000 shares in the company, valued at $241,039,880. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 64,162 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,981,194.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 392,713 shares of company stock valued at $97,038,313. Corporate 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.