First Horizon Advisors Inc. Acquires 101 Shares of Workday, Inc. (NASDAQ:WDAY)

First Horizon Advisors Inc. lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 18.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 648 shares of the software maker’s stock after buying an additional 101 shares during the period. First Horizon Advisors Inc.’s holdings in Workday were worth $158,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares during the last quarter. Legal & General Group Plc increased its position in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Workday by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after buying an additional 153,577 shares during the last quarter. Van ECK Associates Corp boosted its stake in Workday by 0.4% during the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after buying an additional 4,127 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Workday by 13.4% during the second quarter. Envestnet Asset Management Inc. now owns 698,776 shares of the software maker’s stock valued at $156,218,000 after acquiring an additional 82,570 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 0.1 %

Shares of Workday stock opened at $267.75 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $70.95 billion, a P/E ratio of 46.65, a PEG ratio of 5.32 and a beta of 1.35. The firm’s 50 day moving average price is $247.71 and its 200-day moving average price is $236.98. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. KeyCorp upped their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Barclays boosted their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insider Activity at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

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.