Brophy Wealth Management LLC Purchases New Position in Workday, Inc. (NASDAQ:WDAY)

Brophy Wealth Management LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,378 shares of the software maker's stock, valued at approximately $581,000.

Several other hedge funds also recently modified their holdings of WDAY. M&T Bank Corp raised its holdings in Workday by 3.6% during the 3rd quarter. M&T Bank Corp now owns 16,914 shares of the software maker's stock valued at $4,134,000 after acquiring an additional 583 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Workday by 23.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 78,156 shares of the software maker's stock valued at $19,102,000 after acquiring an additional 14,861 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Workday during the third quarter valued at approximately $6,020,000. Zurich Insurance Group Ltd FI bought a new stake in Workday during the 3rd quarter worth approximately $78,003,000. Finally, National Bank of Canada FI lifted its stake in Workday by 122.5% in the 3rd quarter. National Bank of Canada FI now owns 53,844 shares of the software maker's stock worth $13,160,000 after purchasing an additional 29,644 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock worth $88,422,088 in the last three months. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WDAY. Wells Fargo & Company lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday. Citigroup lowered their price target on shares of Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a research note on Wednesday, September 25th. Morgan Stanley raised their price objective on Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. BMO Capital Markets restated an "outperform" rating and set a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Finally, KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $289.21.

Workday Stock Performance

Shares of WDAY stock traded down $6.00 during mid-day trading on Tuesday, reaching $273.91. 2,677,005 shares of the company's stock traded hands, compared to its average volume of 2,216,920. The firm has a 50 day moving average price of $251.13 and a two-hundred day moving average price of $237.53. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $72.59 billion, a PE ratio of 46.42, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $0.47 earnings per share. The business's revenue was up 15.8% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 2.58 EPS for the current year.

About Workday

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.