Allstate Corp Invests $1.63 Million in Workday, Inc. (NASDAQ:WDAY)

Allstate Corp bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 6,310 shares of the software maker’s stock, valued at approximately $1,628,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC acquired a new position in Workday in the 4th quarter worth about $25,000. Avion Wealth boosted its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new stake in Workday in the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC increased its position in shares of Workday by 4,766.7% in 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. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

NASDAQ:WDAY opened at $238.49 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The stock’s fifty day moving average is $256.67 and its two-hundred day moving average is $254.82. The company has a market capitalization of $63.44 billion, a P/E ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. 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 (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (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%. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WDAY. Loop Capital increased their target price on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Daiwa America raised shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Guggenheim reissued a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Redburn Atlantic started coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $300.36.

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.