Arkadios Wealth Advisors Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Arkadios Wealth Advisors grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,129 shares of the software maker’s stock after buying an additional 126 shares during the quarter. Arkadios Wealth Advisors’ holdings in Workday were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Workday by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after buying an additional 263,994 shares in the last quarter. Wellington Management Group LLP lifted its stake in Workday by 37.4% in 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 during the last quarter. State Street Corp lifted its stake in Workday by 0.5% in the second quarter. State Street Corp now owns 4,293,651 shares of the software maker’s stock worth $969,893,000 after purchasing an additional 22,929 shares during the last quarter. Polen Capital Management LLC lifted its stake in Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock worth $848,726,000 after purchasing an additional 78,352 shares during the last quarter. Finally, Norges Bank bought a new stake in Workday in the fourth quarter worth about $600,504,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Down 0.3 %

NASDAQ:WDAY opened at $268.32 on Friday. Workday, Inc. has a 52 week low of $174.25 and a 52 week high of $311.28. The firm has a 50 day moving average of $284.76 and a 200 day moving average of $259.95. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $70.84 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 6.70 and a beta of 1.32.

Workday (NASDAQ:WDAY) last posted its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Workday’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday 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 filing with the SEC, which is available at this link. In related news, insider Sayan Chakraborty sold 4,342 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $272.01, for a total transaction of $1,181,067.42. Following the completion of the transaction, the insider now owns 116,107 shares of the company’s stock, valued at $31,582,265.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 64,162 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly 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 quarter, insiders sold 446,383 shares of company stock valued at $122,469,283. Insiders own 21.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WDAY. Piper Sandler reissued an “overweight” rating and issued a $330.00 price objective on shares of Workday in a research note on Monday, February 26th. Guggenheim reissued a “sell” rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, February 27th. BMO Capital Markets raised their price objective on shares of Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Citigroup raised their price objective on shares of Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Finally, KeyCorp lifted their price target on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $293.61.

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.