Carnegie Investment Counsel Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Carnegie Investment Counsel boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,071 shares of the software maker’s stock after purchasing an additional 915 shares during the quarter. Carnegie Investment Counsel’s holdings in Workday were worth $8,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the 3rd quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in shares of Workday in the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. increased its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. New Millennium Group LLC increased its stake in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of Workday stock opened at $250.70 on Friday. 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 firm’s 50-day simple moving average is $262.69 and its 200-day simple moving average is $246.45. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market cap of $66.69 billion, a P/E ratio of 41.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays reduced their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Wells Fargo & Company raised their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Mizuho raised their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.