Cypress Asset Management Inc. TX Makes New $1.54 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Cypress Asset Management Inc. TX purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,583 shares of the software maker’s stock, valued at approximately $1,541,000.

Several other institutional investors and hedge funds have also modified their holdings of WDAY. Beacon Capital Management LLC lifted its stake in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Workday in the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC lifted its stake in shares of Workday by 1,750.0% in the 4th 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, CVA Family Office LLC acquired a new stake in shares of Workday in the 4th quarter valued at $33,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. In related news, insider Richard Harry Sauer sold 8,447 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,691 shares of company stock valued at $117,731,569. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Up 0.4 %

WDAY traded up $1.02 during trading on Thursday, hitting $260.90. 4,346,855 shares of the company’s stock were exchanged, compared to its average volume of 1,878,583. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $261.11 and its two-hundred day moving average is $268.93. Workday, Inc. has a fifty-two week low of $191.04 and a fifty-two week high of $311.28. The stock has a market cap of $68.88 billion, a P/E ratio of 50.67, a PEG ratio of 7.72 and a beta of 1.33.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.16. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, equities analysts expect that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WDAY. BMO Capital Markets lifted their price objective on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Barclays cut their target price on shares of Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Guggenheim reissued a “sell” rating and set a $190.00 target price on shares of Workday in a research report on Tuesday, February 27th. Finally, Bank of America dropped their price objective on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $296.64.

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.