Kovack Advisors Inc. Has $409,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Kovack Advisors Inc. lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,587 shares of the software maker’s stock after acquiring an additional 175 shares during the quarter. Kovack Advisors Inc.’s holdings in Workday were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Workday by 10.7% in the third 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. State Street Corp boosted its holdings in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on WDAY shares. Piper Sandler lifted their price objective on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $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 433,321 shares of company stock worth $111,763,803 over the last three months. Insiders own 20.00% of the company’s stock.

Workday Stock Up 1.1 %

WDAY stock opened at $263.34 on Friday. The company has a market cap of $70.05 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $296.44. The business has a 50-day simple moving average of $259.69 and a 200 day simple moving average of $254.65.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Company 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.