Exchange Traded Concepts LLC Makes New $230,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Exchange Traded Concepts LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 890 shares of the software maker’s stock, valued at approximately $230,000.

Several other institutional investors have also recently made changes to their positions in WDAY. Two Sigma Advisers LP grew its holdings 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 acquiring an additional 562,400 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI bought a new position in shares of Workday during the third quarter valued at approximately $78,003,000. Lindbrook Capital LLC increased its holdings in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after buying an additional 284,266 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in Workday by 387.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock worth $86,926,000 after buying an additional 282,632 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WDAY shares. Bank of America cut their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Citigroup cut their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company increased their target price on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Workday Price Performance

NASDAQ:WDAY opened at $262.06 on Friday. The firm’s fifty day moving average is $261.18 and its two-hundred day moving average is $248.68. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 4.79 and a beta of 1.34. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. 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 (NASDAQ:WDAY) last posted its 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current 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.