Wedmont Private Capital Buys 822 Shares of Workday, Inc. (NASDAQ:WDAY)

Wedmont Private Capital increased its stake in Workday, Inc. (NASDAQ:WDAY) by 69.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,005 shares of the software maker’s stock after buying an additional 822 shares during the period. Wedmont Private Capital’s holdings in Workday were worth $454,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WDAY. Roxbury Financial LLC bought a new position in Workday in the fourth quarter worth about $25,000. Avion Wealth raised its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in Workday in the fourth quarter worth about $35,000. Financial Management Professionals Inc. raised its stake in Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after buying an additional 54 shares in the last quarter. Finally, Rakuten Securities Inc. raised its stake in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after buying an additional 66 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Wells Fargo & Company cut their price objective on shares of Workday from $360.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler restated a “neutral” rating and issued a $255.00 price objective (up previously from $230.00) on shares of Workday in a report on Friday, May 23rd. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group cut their price objective on shares of Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.54.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,838 shares of company stock worth $61,738,776 in the last 90 days. 19.31% of the stock is currently owned by insiders.

Workday Trading Down 0.1%

Shares of Workday stock opened at $252.73 on Wednesday. The company’s fifty day simple moving average is $243.42 and its 200-day simple moving average is $252.78. The stock has a market capitalization of $67.48 billion, a PE ratio of 41.91, a P/E/G ratio of 3.55 and a beta of 1.24. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company 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.