Circle Wealth Management LLC Boosts Position in Workday, Inc. (NASDAQ:WDAY)

Circle Wealth Management LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAYGet Rating) by 110.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,405 shares of the software maker’s stock after purchasing an additional 2,314 shares during the quarter. Circle Wealth Management LLC’s holdings in Workday were worth $1,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Workday by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,152,961 shares of the software maker’s stock worth $2,910,149,000 after buying an additional 139,939 shares in the last quarter. Lone Pine Capital LLC raised its holdings in shares of Workday by 16.9% during the fourth quarter. Lone Pine Capital LLC now owns 5,814,667 shares of the software maker’s stock valued at $1,588,451,000 after acquiring an additional 840,799 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Workday by 6.2% during the first quarter. Clearbridge Investments LLC now owns 3,427,755 shares of the software maker’s stock valued at $820,810,000 after acquiring an additional 201,605 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in Workday by 6.2% in the first quarter. Sustainable Growth Advisers LP now owns 2,970,385 shares of the software maker’s stock worth $711,288,000 after purchasing an additional 172,194 shares during the period. Finally, Norges Bank purchased a new stake in Workday in the fourth quarter worth $688,093,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $169.96 on Friday. The stock has a market cap of $43.51 billion, a price-to-earnings ratio of -217.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50 day moving average price of $161.73 and a 200-day moving average price of $153.49. Workday, Inc. has a one year low of $134.10 and a one year high of $307.81.

Workday (NASDAQ:WDAYGet Rating) last announced its earnings results on Thursday, August 25th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Workday had a negative return on equity of 2.34% and a negative net margin of 3.46%. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts expect that Workday, Inc. will post -0.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WDAY shares. Needham & Company LLC increased their target price on Workday from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, August 26th. DA Davidson lowered their target price on Workday from $250.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 27th. Monness Crespi & Hardt lowered their target price on Workday to $200.00 in a report on Friday, May 27th. KeyCorp lowered their target price on Workday from $229.00 to $207.00 and set an “overweight” rating on the stock in a report on Friday, May 27th. Finally, Morgan Stanley lowered their target price on Workday from $310.00 to $282.00 and set an “overweight” rating on the stock in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.97.

Insider Buying and Selling

In related news, CFO Barbara A. Larson sold 1,962 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $138.49, for a total transaction of $271,717.38. Following the completion of the sale, the chief financial officer now directly owns 79,454 shares of the company’s stock, valued at approximately $11,003,584.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO James Bozzini sold 5,030 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $138.49, for a total transaction of $696,604.70. Following the completion of the sale, the chief operating officer now directly owns 172,640 shares of the company’s stock, valued at approximately $23,908,913.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Barbara A. Larson sold 1,962 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $138.49, for a total value of $271,717.38. Following the sale, the chief financial officer now directly owns 79,454 shares of the company’s stock, valued at $11,003,584.46. The disclosure for this sale can be found here. In the last three months, insiders sold 119,883 shares of company stock valued at $17,036,414. Insiders own 21.74% of the company’s stock.

About Workday

(Get Rating)

Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

Further Reading

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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