1,200 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Connective Portfolio Management LLC

Connective Portfolio Management LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,200 shares of the software maker's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marcum Wealth LLC lifted its stake in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after acquiring an additional 43 shares during the period. Kingsview Wealth Management LLC increased its holdings in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock worth $1,243,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC raised its position in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock valued at $231,000 after purchasing an additional 47 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its stake in shares of Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock worth $324,000 after buying an additional 48 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Up 1.0 %

NASDAQ WDAY traded up $2.39 during mid-day trading on Thursday, reaching $250.96. 951,580 shares of the stock were exchanged, compared to its average volume of 2,040,586. The stock has a market capitalization of $66.75 billion, a PE ratio of 41.60, a PEG ratio of 4.51 and a beta of 1.34. 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, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business's fifty day simple moving average is $262.75 and its 200 day simple moving average is $246.44.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on 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 sale, the director now owns 6,845 shares of the company's stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were 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 in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 in the last three months. Company insiders own 20.00% of the company's stock.

Analyst Ratings Changes

WDAY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and lifted their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Guggenheim upgraded shares of Workday from a "sell" rating to a "neutral" rating in a research note on Monday, January 6th. Morgan Stanley raised their price target on Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Piper Sandler reissued a "neutral" rating and set a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company 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.