Proficio Capital Partners LLC Makes New $44.74 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Proficio Capital Partners LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 173,396 shares of the software maker’s stock, valued at approximately $44,741,000. Workday comprises 0.6% of Proficio Capital Partners LLC’s holdings, making the stock its 27th biggest position.

A number of other large investors have also bought and sold shares of the company. Marcum Wealth LLC increased its position in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC increased its position in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the last quarter. Meeder Asset Management Inc. increased its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares during the last quarter. Finally, Fulton Bank N.A. grew its position in shares of Workday by 1.3% in the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock valued at $954,000 after purchasing an additional 48 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 1.8 %

WDAY stock opened at $237.22 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s 50 day moving average price is $257.09 and its two-hundred day moving average price is $255.67. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market capitalization of $63.10 billion, a price-to-earnings ratio of 39.34, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital lifted their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Mizuho lifted their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Insider Activity at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the sale, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. This trade represents a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is owned by corporate insiders.

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.