Checchi Capital Advisers LLC Acquires Shares of 948 Workday, Inc. (NASDAQ:WDAY)

Checchi Capital Advisers LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 948 shares of the software maker’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WDAY. Red Crane Wealth Management LLC acquired a new stake in Workday in the fourth quarter valued at about $361,000. National Pension Service boosted its stake in shares of Workday by 22.5% in the 4th quarter. National Pension Service now owns 683,874 shares of the software maker’s stock valued at $176,460,000 after purchasing an additional 125,496 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Workday by 26.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,658 shares of the software maker’s stock valued at $428,000 after purchasing an additional 350 shares during the last quarter. Kirtland Hills Capital Management LLC increased its position in Workday by 12.8% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,497 shares of the software maker’s stock worth $644,000 after purchasing an additional 283 shares in the last quarter. Finally, FFT Wealth Management LLC bought a new position in Workday in the 4th quarter valued at approximately $337,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This represents a 16.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 433,321 shares of company stock worth $111,763,803 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Down 3.9 %

WDAY stock opened at $260.57 on Friday. The stock’s 50 day simple moving average is $259.89 and its 200 day simple moving average is $254.28. The company has a market cap of $69.31 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. 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 fifty-two week low of $199.81 and a fifty-two week high of $298.50.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WDAY. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Stifel Nicolaus upped their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Wednesday. Finally, Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

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.