United Asset Strategies Inc. Buys Shares of 5,403 Workday, Inc. (NASDAQ:WDAY)

United Asset Strategies Inc. bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,403 shares of the software maker’s stock, valued at approximately $1,492,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Workday during the 4th quarter valued at approximately $600,504,000. Wellington Management Group LLP lifted its stake in shares of Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC lifted its stake in shares of Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares in the last quarter. Morgan Stanley lifted its stake in shares of Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares in the last quarter. Finally, Amundi lifted its stake in shares of Workday by 233.9% during the 4th quarter. Amundi now owns 766,911 shares of the software maker’s stock valued at $125,712,000 after buying an additional 537,196 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 379,691 shares of company stock worth $102,897,729 in the last three months. 21.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on WDAY. Stifel Nicolaus upped their price target on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price on shares of Workday in a report on Monday, February 26th. Evercore ISI upped their target price on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Down 0.7 %

Shares of Workday stock opened at $257.69 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50-day moving average of $280.85 and a 200 day moving average of $262.06. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. As a group, sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

About Workday

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.