Brighton Jones LLC Buys New Holdings in Workday, Inc. (NASDAQ:WDAY)

Brighton Jones LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 964 shares of the software maker’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Beacon Capital Management LLC grew its stake in shares of 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 purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in shares of 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 buying an additional 84 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Workday in the 3rd quarter worth approximately $29,000. Exchange Traded Concepts LLC increased its stake in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Workday during the fourth quarter valued at approximately $33,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WDAY shares. Wells Fargo & Company lifted their price target on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. BMO Capital Markets boosted their price target on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Citigroup upped their target price on Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, Needham & Company LLC raised their target price on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Up 2.0 %

Workday stock opened at $255.78 on Friday. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28. The stock has a fifty day simple moving average of $269.08 and a two-hundred day simple moving average of $264.57. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $67.53 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 6.27 and a beta of 1.33.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. Equities analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 over the last three months. 21.09% of the stock is currently owned by company 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.