Evanson Asset Management LLC Acquires 929 Shares of Workday, Inc. (NASDAQ:WDAY)

Evanson Asset Management LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 45.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,992 shares of the software maker’s stock after purchasing an additional 929 shares during the quarter. Evanson Asset Management LLC’s holdings in Workday were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. Capital Performance Advisors LLP bought a new stake in shares of Workday during the 3rd quarter worth about $26,000. Goodman Advisory Group LLC acquired a new stake in Workday during the second quarter worth approximately $35,000. Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. New Millennium Group LLC grew its position in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on WDAY shares. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company boosted their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Barclays lowered their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Price Performance

Shares of WDAY opened at $249.64 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $66.40 billion, a PE ratio of 41.40, a PEG ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business has a 50-day simple moving average of $262.40 and a two-hundred day simple moving average of $246.79.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

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.