Focus Partners Advisor Solutions LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

Focus Partners Advisor Solutions LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,405 shares of the software maker’s stock after purchasing an additional 313 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Workday were worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roxbury Financial LLC purchased a new position in Workday in the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in Workday in the fourth quarter worth approximately $26,000. Avion Wealth lifted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in Workday in the fourth quarter worth approximately $35,000. Finally, Rakuten Securities Inc. lifted its stake in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and set a $340.00 price objective on shares of Workday in a report on Friday. Jefferies Financial Group cut their price objective on shares of Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Scotiabank cut their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $293.54.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 321,724 shares of company stock worth $77,976,126. Corporate insiders own 19.31% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $238.01 on Friday. The firm’s fifty day moving average price is $242.57 and its 200 day moving average price is $254.22. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market cap of $63.31 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm posted $1.74 EPS. Workday’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current 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.