Chicago Partners Investment Group LLC Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Chicago Partners Investment Group LLC increased its stake in Workday, Inc. (NASDAQ:WDAY) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,359 shares of the software maker’s stock after acquiring an additional 61 shares during the period. Chicago Partners Investment Group LLC’s holdings in Workday were worth $346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Workday by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,021 shares of the software maker’s stock worth $250,000 after acquiring an additional 327 shares in the last quarter. Diversified Trust Co raised its position in shares of Workday by 35.5% in the 3rd quarter. Diversified Trust Co now owns 6,546 shares of the software maker’s stock worth $1,600,000 after acquiring an additional 1,716 shares in the last quarter. CWM LLC raised its position in shares of Workday by 24.8% in the 3rd quarter. CWM LLC now owns 7,800 shares of the software maker’s stock worth $1,907,000 after acquiring an additional 1,549 shares in the last quarter. Marcum Wealth LLC bought a new position in shares of Workday in the 3rd quarter worth approximately $226,000. Finally, Wedmont Private Capital raised its position in shares of Workday by 5.4% in the 3rd quarter. Wedmont Private Capital now owns 1,171 shares of the software maker’s stock worth $276,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $259.73 on Wednesday. The company has a market capitalization of $69.09 billion, a price-to-earnings ratio of 43.07, a price-to-earnings-growth ratio of 4.73 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. 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 50 day moving average of $260.91 and a 200 day moving average of $249.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WDAY shares. Oppenheimer restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. 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 research note on Wednesday, November 27th. Wells Fargo & Company upped their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Mizuho upped their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.