Frank Rimerman Advisors LLC Acquires 517 Shares of Workday, Inc. (NASDAQ:WDAY)

Frank Rimerman Advisors LLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,971 shares of the software maker’s stock after acquiring an additional 517 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Workday were worth $1,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copperwynd Financial LLC grew its stake in shares of Workday by 9.0% during the fourth quarter. Copperwynd Financial LLC now owns 3,968 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 326 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Workday in the 4th quarter valued at $1,047,000. Ironwood Investment Counsel LLC increased its stake in shares of Workday by 11.4% in the 4th quarter. Ironwood Investment Counsel LLC now owns 17,997 shares of the software maker’s stock valued at $4,644,000 after buying an additional 1,836 shares during the period. LBP AM SA raised its position in shares of Workday by 0.6% during the fourth quarter. LBP AM SA now owns 40,583 shares of the software maker’s stock worth $10,472,000 after acquiring an additional 227 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $244.17 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market capitalization of $64.95 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 3.55 and a beta of 1.38. 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 business has a 50-day moving average of $256.91 and a 200-day moving average of $255.49.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on WDAY shares. Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. The Goldman Sachs Group increased their price objective on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their target price on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Oppenheimer increased their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now owns 284,000 shares of the company’s stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,829 shares of company stock valued at $113,033,319. 20.00% of the stock is currently owned by corporate insiders.

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.