GAMMA Investing LLC Acquires Shares of 459 Workday, Inc. (NASDAQ:WDAY)

GAMMA Investing LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 459 shares of the software maker’s stock, valued at approximately $134,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ORG Partners LLC raised its holdings in shares of Workday by 1.2% in the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after buying an additional 34 shares during the period. Washington Trust Advisors Inc. raised its holdings in shares of Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares during the period. Meitav Investment House Ltd. raised its holdings in shares of Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares during the period. Cigna Investments Inc. New raised its holdings in shares of Workday by 1.7% in the fourth quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock worth $598,000 after buying an additional 37 shares during the period. Finally, Waldron Private Wealth LLC raised its holdings in shares of Workday by 0.9% in the fourth quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock worth $1,294,000 after buying an additional 40 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Down 1.2 %

WDAY stock opened at $251.04 on Friday. 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 12-month low of $174.25 and a 12-month high of $311.28. The stock has a market cap of $66.27 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 6.27 and a beta of 1.32. The business’s 50-day moving average is $273.49 and its 200 day moving average is $264.07.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Workday

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 stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $27,633,065.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of Workday 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 completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,633,065.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,691 shares of company stock valued at $117,731,569. 21.09% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased 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. KeyCorp increased their price objective on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. DA Davidson reissued a “neutral” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price objective on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.