NewEdge Wealth LLC Increases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

NewEdge Wealth LLC raised its stake in Workday, Inc. (NASDAQ:WDAY) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,952 shares of the software maker’s stock after buying an additional 378 shares during the quarter. NewEdge Wealth LLC’s holdings in Workday were worth $1,794,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WDAY. Roxbury Financial LLC acquired a new position in Workday in the fourth quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new position in Workday in the third quarter valued at about $26,000. Crews Bank & Trust acquired a new position in Workday in the fourth quarter valued at about $26,000. Avion Wealth lifted its position in Workday by 452.6% in 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 last quarter. Finally, Meeder Asset Management Inc. lifted its position 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 last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Insider Activity

In other news, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 433,321 shares of company stock valued at $111,763,803. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

Shares of Workday stock opened at $263.34 on Friday. The firm has a market capitalization of $70.05 billion, a P/E ratio of 43.67, a P/E/G ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. 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’s 50 day moving average is $259.69 and its two-hundred day moving average is $254.92.

Workday (NASDAQ:WDAY) last announced its quarterly 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 company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.