Kovack Advisors Inc. Has $325,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Kovack Advisors Inc. reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,179 shares of the software maker’s stock after selling 227 shares during the period. Kovack Advisors Inc.’s holdings in Workday were worth $325,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WDAY. Vanguard Group Inc. boosted its holdings in Workday by 1.9% during the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock worth $3,010,244,000 after buying an additional 263,994 shares during the last quarter. Wellington Management Group LLP grew its holdings in Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the period. Polen Capital Management LLC increased its stake in Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after purchasing an additional 78,352 shares in the last quarter. Morgan Stanley raised its holdings in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Workday by 8.5% in the third quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock worth $564,976,000 after purchasing an additional 206,112 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ WDAY opened at $248.77 on Tuesday. The firm’s 50 day simple moving average is $272.42 and its 200 day simple moving average is $264.59. The firm has a market capitalization of $65.68 billion, a price-to-earnings ratio of 48.30, a P/E/G ratio of 6.27 and a beta of 1.32. 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 1 year low of $174.25 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the company earned ($0.14) earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Douglas A. Robinson sold 411 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now directly 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 in the last ninety days. 21.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WDAY shares. Citigroup boosted their price target on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Barclays dropped their price target on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. StockNews.com cut Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. One equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Company 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.