Harbor Investment Advisory LLC Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Harbor Investment Advisory LLC boosted its position in Workday, Inc. (NASDAQ:WDAY) by 952.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,642 shares of the software maker’s stock after acquiring an additional 1,486 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Workday were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP acquired a new position in shares of Workday in the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. raised its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. True Wealth Design LLC lifted its position in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares in the last quarter. New Millennium Group LLC lifted its position in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Workday during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.4 %

Shares of WDAY stock opened at $250.72 on Wednesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a market capitalization of $66.69 billion, a PE ratio of 41.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. The stock has a fifty day moving average of $262.11 and a two-hundred day moving average of $247.11. 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. Workday’s revenue was up 15.8% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, 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 value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last quarter. 20.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. 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. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, November 25th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.