Procyon Advisors LLC Grows Position in Workday, Inc. (NASDAQ:WDAY)

Procyon Advisors LLC raised its position in Workday, Inc. (NASDAQ:WDAY) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,502 shares of the software maker’s stock after purchasing an additional 211 shares during the quarter. Procyon Advisors LLC’s holdings in Workday were worth $2,194,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new position in Workday in the 3rd quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after purchasing an additional 7,802 shares during the period. Nordea Investment Management AB lifted its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % 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, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

WDAY opened at $249.64 on Friday. The stock has a market cap of $66.40 billion, a P/E ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. 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 firm has a fifty day moving average price of $262.54 and a 200 day moving average price of $246.48. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Loop Capital decreased their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Barclays reduced their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.