Koshinski Asset Management Inc. Invests $201,000 in Workday, Inc. (NASDAQ:WDAY)

Koshinski Asset Management Inc. acquired a new position in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 779 shares of the software maker’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP grew its position in Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Janus Henderson Group PLC increased its stake in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Workday in the third quarter worth $78,003,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after buying an additional 284,266 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $17,584,753.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WDAY. Barclays cut their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada lifted their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Price Performance

Shares of Workday stock opened at $255.30 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a 50 day simple moving average of $261.26 and a two-hundred day simple moving average of $247.31. The stock has a market capitalization of $67.91 billion, a P/E ratio of 42.34, a PEG ratio of 4.53 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.