Arkadios Wealth Advisors Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Arkadios Wealth Advisors increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,525 shares of the software maker’s stock after buying an additional 357 shares during the quarter. Arkadios Wealth Advisors’ holdings in Workday were worth $910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Loop Capital lowered their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, Mizuho raised their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Price Performance

Workday stock opened at $249.64 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. The company’s 50 day simple moving average is $262.40 and its 200-day simple moving average is $246.94. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, equities research analysts expect that Workday, Inc. will post 2.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 in the last ninety days. 20.00% of the stock is owned by corporate insiders.

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.