KRS Capital Management LLC Grows Position in Workday, Inc. (NASDAQ:WDAY)

KRS Capital Management LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,245 shares of the software maker’s stock after purchasing an additional 60 shares during the quarter. KRS Capital Management LLC’s holdings in Workday were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Beacon Capital Management LLC grew its holdings in shares of Workday by 333.3% during the 4th 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 period. Exchange Traded Concepts LLC boosted its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. Sound Income Strategies LLC boosted its holdings in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the period. CVA Family Office LLC purchased a new position in Workday during the 4th quarter valued at about $33,000. Finally, VisionPoint Advisory Group LLC raised its position in Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares in the company, valued at $17,797,342.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The disclosure for this sale can be found here. Insiders have sold a total of 448,713 shares of company stock worth $109,278,793 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Workday from $325.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Citigroup reduced their price target on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. DA Davidson reduced their price target on Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. TD Cowen cut their target price on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, Mizuho cut their target price on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $282.11.

Workday Stock Performance

Shares of WDAY stock traded up $0.20 during midday trading on Friday, hitting $223.56. The company had a trading volume of 2,677,241 shares, compared to its average volume of 2,610,670. The company’s 50 day simple moving average is $232.50 and its 200 day simple moving average is $263.40. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The stock has a market cap of $59.24 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 5.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business posted $0.16 EPS. The company’s revenue was up 18.1% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

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.