Choreo LLC Acquires 1,986 Shares of Workday, Inc. (NASDAQ:WDAY)

Choreo LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 19.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,436 shares of the software maker’s stock after acquiring an additional 1,986 shares during the period. Choreo LLC’s holdings in Workday were worth $3,257,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Workday during the 3rd quarter valued at about $26,000. Crews Bank & Trust bought a new position in Workday during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during 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 during the last quarter. New Millennium Group LLC lifted its holdings in Workday by 177.4% during the 3rd 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 lifted its holdings in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Up 0.6 %

Shares of NASDAQ WDAY opened at $277.82 on Friday. The stock has a market cap of $73.90 billion, a P/E ratio of 46.07, a P/E/G ratio of 4.73 and a beta of 1.35. The firm has a 50 day moving average price of $261.15 and a 200 day moving average price of $249.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

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 the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday. The Goldman Sachs Group boosted their target price on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $292.43.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock worth $113,142,592 over the last quarter. 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.