Sound Income Strategies LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Sound Income Strategies LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 74.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115 shares of the software maker’s stock after purchasing an additional 49 shares during the period. Sound Income Strategies LLC’s holdings in Workday were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Beacon Capital Management LLC boosted its holdings in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the last quarter. CVA Family Office LLC acquired a new position in Workday during the 4th quarter valued at approximately $33,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Workday in the third quarter worth $39,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WDAY shares. DA Davidson cut their target price on Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus reduced their price objective on Workday from $290.00 to $250.00 and set a “hold” rating for the company in a research note on Friday, May 24th. The Goldman Sachs Group dropped their target price on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Bank of America reduced their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Evercore ISI dropped their price objective on shares of Workday from $350.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $282.11.

Insider Buying and Selling

In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the sale, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares of the company’s stock, valued at approximately $17,797,342.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 64,162 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,981,194.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 448,713 shares of company stock worth $109,278,793. 20.00% of the stock is owned by corporate insiders.

Workday Trading Up 3.0 %

Shares of WDAY opened at $223.36 on Friday. The firm’s fifty day moving average is $233.71 and its two-hundred day moving average is $264.05. The stock has a market cap of $59.19 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The company 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%. Workday’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

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.