Wedbush Securities Inc. Has $534,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Wedbush Securities Inc. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 18.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,390 shares of the software maker’s stock after purchasing an additional 371 shares during the quarter. Wedbush Securities Inc.’s holdings in Workday were worth $534,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC increased its position in shares of Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after acquiring an additional 34 shares in the last quarter. Congress Wealth Management LLC DE increased its holdings in Workday by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of Workday by 4.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after purchasing an additional 39 shares during the period. Hudson Value Partners LLC lifted its holdings in shares of Workday by 0.8% in the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after purchasing an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Workday by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after buying an additional 42 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares in the company, valued at $159,563,400. The sale was disclosed in a filing with the SEC, which is available at this link. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the sale, the insider now directly owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The disclosure for this sale can be found here. Insiders have sold a total of 466,402 shares of company stock worth $107,992,034 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of a number of recent research reports. Sanford C. Bernstein dropped their target price on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Robert W. Baird reduced their target price on shares of Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Jefferies Financial Group lowered their price target on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Performance

NASDAQ:WDAY opened at $251.19 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $234.83 and a 200 day simple moving average of $244.14. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock has a market cap of $66.57 billion, a P/E ratio of 45.26, a PEG ratio of 5.47 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. Workday’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current 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.