RWA Wealth Partners LLC Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

RWA Wealth Partners LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,774 shares of the software maker’s stock after acquiring an additional 972 shares during the quarter. RWA Wealth Partners LLC’s holdings in Workday were worth $5,360,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares during the period. Janus Henderson Group PLC raised its holdings in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. State Street Corp lifted its position in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Workday in the 4th quarter worth approximately $645,710,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,144 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 431,145 shares of company stock valued at $108,631,438 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of analyst reports. Oppenheimer increased their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, March 24th. Royal Bank of Canada upped their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Citigroup lowered their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Stifel Nicolaus increased their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Ten equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Workday Price Performance

NASDAQ:WDAY opened at $238.49 on Monday. The stock has a 50 day moving average of $256.67 and a two-hundred day moving average of $254.82. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The firm has a market cap of $63.44 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued 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). 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. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.