Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,574 shares of the software maker’s stock after buying an additional 770 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Workday were worth $1,696,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Marcum Wealth LLC boosted its stake in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, September 18th. The Goldman Sachs Group upped their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Mizuho raised their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by insiders.

Workday Stock Up 1.1 %

NASDAQ:WDAY traded up $2.79 during trading hours on Thursday, hitting $251.36. The stock had a trading volume of 86,682 shares, compared to its average volume of 1,956,013. The business has a 50 day simple moving average of $262.75 and a two-hundred day simple moving average of $246.44. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.86 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Analysts predict that Workday, Inc. will post 2.64 EPS for the current year.

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.