Baker Tilly Wealth Management LLC Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Baker Tilly Wealth Management LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,252 shares of the software maker’s stock after purchasing an additional 117 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Workday were worth $581,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Workday by 42.8% in the second quarter. Principal Financial Group Inc. now owns 12,275 shares of the software maker’s stock worth $2,744,000 after acquiring an additional 3,679 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Workday by 373.9% during the second quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock worth $6,152,000 after purchasing an additional 21,727 shares in the last quarter. Caprock Group LLC increased its holdings in Workday by 39.0% in the second quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock valued at $595,000 after buying an additional 746 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Workday in the second quarter valued at $65,000. Finally, Wedbush Securities Inc. boosted its position in shares of Workday by 18.4% during the 2nd quarter. Wedbush Securities Inc. now owns 2,390 shares of the software maker’s stock worth $534,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares in the company, valued at $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 368,257 shares of company stock valued at $94,938,455. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Citigroup lowered their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday, November 25th. Loop Capital reduced their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Finally, Royal Bank of Canada lifted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Price Performance

Shares of NASDAQ WDAY traded down $2.22 during trading on Friday, hitting $252.47. The company had a trading volume of 389,090 shares, compared to its average volume of 1,680,093. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $67.16 billion, a P/E ratio of 41.87, a PEG ratio of 5.04 and a beta of 1.34. The business’s 50-day moving average is $262.35 and its 200 day moving average is $245.50. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts predict that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

About Workday

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.