Clearstead Trust LLC Makes New $678,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Clearstead Trust LLC bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,457 shares of the software maker’s stock, valued at approximately $678,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its holdings in Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC lifted its holdings in Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the period. Clear Street Markets LLC bought a new stake in Workday during the 3rd quarter valued at approximately $29,000. Exchange Traded Concepts LLC grew its holdings in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Workday in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY traded up $4.93 during trading hours on Friday, hitting $255.78. 3,072,637 shares of the company’s stock traded hands, compared to its average volume of 1,740,171. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52 week low of $174.25 and a 52 week high of $311.28. The firm has a market capitalization of $67.53 billion, a P/E ratio of 49.67, a P/E/G ratio of 6.27 and a beta of 1.33. The business’s fifty day moving average price is $268.07 and its two-hundred day moving average price is $264.85.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction dated 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 transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 over the last quarter. 21.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDAY. StockNews.com cut Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Citigroup lifted their price target on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. UBS Group cut their price objective on shares of Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC lifted their target price on shares of Workday from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus upped their price target on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $293.61.

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.