Fiduciary Alliance LLC Invests $2.49 Million in Workday, Inc. (NASDAQ:WDAY)

Fiduciary Alliance LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,634 shares of the software maker’s stock, valued at approximately $2,486,000.

Other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP purchased a new stake in Workday in the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares in the last quarter. Nordea Investment Management AB increased its stake in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings 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. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Morgan Stanley raised their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday, November 25th. Finally, Citigroup lowered their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 382,347 shares of company stock valued at $99,225,903. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY traded down $4.04 on Monday, hitting $245.67. 366,423 shares of the company were exchanged, compared to its average volume of 1,733,245. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s fifty day moving average is $262.56 and its 200 day moving average is $246.12. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market capitalization of $65.35 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.58 EPS 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.