Smithfield Trust Co Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Smithfield Trust Co boosted its position in Workday, Inc. (NASDAQ:WDAY) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 760 shares of the software maker’s stock after acquiring an additional 84 shares during the quarter. Smithfield Trust Co’s holdings in Workday were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new position in shares of Workday in the 4th quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in Workday during the third quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in Workday in the fourth quarter valued at about $26,000. Avion Wealth raised its position in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Finally, Meeder Asset Management Inc. boosted 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 worth $35,000 after acquiring an additional 43 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. UBS Group increased their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Oppenheimer boosted their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and boosted their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $302.14.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,829 shares of company stock valued at $113,033,319. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

NASDAQ:WDAY opened at $259.61 on Thursday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 firm has a market cap of $69.06 billion, a P/E ratio of 43.05, a PEG ratio of 3.55 and a beta of 1.35. The business’s 50-day moving average price is $258.98 and its 200 day moving average price is $255.49.

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