Independent Advisor Alliance Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Independent Advisor Alliance increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,604 shares of the software maker’s stock after acquiring an additional 64 shares during the period. Independent Advisor Alliance’s holdings in Workday were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WDAY. B. Riley Wealth Advisors Inc. lifted its position in shares of Workday by 27.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock worth $659,000 after purchasing an additional 525 shares during the last quarter. Comerica Bank lifted its position in shares of Workday by 13.2% in the 1st quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock worth $11,637,000 after buying an additional 4,977 shares during the last quarter. Swedbank AB bought a new stake in shares of Workday during the 1st quarter valued at about $21,906,000. Cetera Investment Advisers lifted its position in Workday by 83.5% in the 1st quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock valued at $13,401,000 after purchasing an additional 22,351 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in Workday by 378.3% in the 1st quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock valued at $4,523,000 after acquiring an additional 13,115 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 6.2 %

Shares of NASDAQ WDAY opened at $253.40 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The stock has a market cap of $67.15 billion, a P/E ratio of 42.02, a P/E/G ratio of 5.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a 50 day moving average price of $248.74 and a 200 day moving average price of $237.44.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WDAY. KeyCorp upped their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. Evercore ISI decreased their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $288.14.

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.