PFG Investments LLC Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

PFG Investments LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,150 shares of the software maker’s stock after buying an additional 206 shares during the quarter. PFG Investments LLC’s holdings in Workday were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC lifted its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Clear Street Markets LLC acquired a new position in Workday in the third quarter worth $29,000. Exchange Traded Concepts LLC increased its stake in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Workday in a report on Monday, February 26th. The Goldman Sachs Group upped their target price on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Wells Fargo & Company raised their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Needham & Company LLC upped their price objective on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus raised their target price on Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.61.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on 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 owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 65,221 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,633,065.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,691 shares of company stock worth $117,731,569. Company insiders own 21.09% of the company’s stock.

Workday Price Performance

Shares of WDAY traded down $2.27 during mid-day trading on Monday, hitting $248.77. The company’s stock had a trading volume of 2,182,025 shares, compared to its average volume of 1,765,825. 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 firm has a 50-day moving average price of $272.42 and a 200 day moving average price of $264.59. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The stock has a market capitalization of $65.68 billion, a price-to-earnings ratio of 48.30, a PEG ratio of 6.27 and a beta of 1.32.

Workday (NASDAQ:WDAY) last posted 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. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, research analysts predict that Workday, Inc. will post 1.76 EPS 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.