Axxcess Wealth Management LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Axxcess Wealth Management LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 795 shares of the software maker’s stock, valued at approximately $219,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Workday by 1.9% during the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after purchasing an additional 263,994 shares in the last quarter. Wellington Management Group LLP boosted its position in Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Polen Capital Management LLC boosted its holdings 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 acquiring an additional 78,352 shares in the last quarter. Morgan Stanley boosted its holdings in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Workday by 8.5% in the third quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock worth $564,976,000 after acquiring an additional 206,112 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $330.00 price target on shares of Workday in a report on Monday, February 26th. Citigroup raised their price target on Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. KeyCorp raised their price target on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group raised their price objective on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, StockNews.com cut Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Workday Price Performance

WDAY stock opened at $245.96 on Friday. 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 company has a market capitalization of $64.93 billion, a PE ratio of 47.76, a P/E/G ratio of 6.39 and a beta of 1.33. Workday, Inc. has a 12-month low of $174.70 and a 12-month high of $311.28. The business’s fifty day moving average price is $265.10 and its 200 day moving average price is $265.94.

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

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,633,065.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction dated 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 completion of 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 SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 65,221 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,633,065.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. 21.09% of the stock is currently owned by company insiders.

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.