LPL Financial LLC Buys 35,211 Shares of Workday, Inc. (NASDAQ:WDAY)

LPL Financial LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 26.3% in the 4th quarter, Holdings Channel reports. The firm owned 169,293 shares of the software maker’s stock after buying an additional 35,211 shares during the period. LPL Financial LLC’s holdings in Workday were worth $43,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter worth approximately $25,000. Avion Wealth grew its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC purchased a new stake in Workday during the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC raised its position in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $238.49 on Friday. The stock has a market cap of $63.44 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. 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 stock has a 50 day moving average price of $256.67 and a 200-day moving average price of $254.83. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WDAY shares. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Canaccord Genuity Group upped their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Loop Capital lifted their price objective on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the transaction, the director now owns 75,000 shares in the company, valued at $18,099,750. The trade was a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,776,029.22. This trade represents a 40.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,145 shares of company stock valued at $123,289,438. Company insiders own 20.00% of the company’s stock.

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.