Fiduciary Alliance LLC Makes New $2.49 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Fiduciary Alliance LLC acquired a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,634 shares of the software maker's stock, valued at approximately $2,486,000.

Several other large investors also recently modified their holdings of the business. Sanctuary Advisors LLC increased its holdings in Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock worth $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP acquired a new stake in Workday in the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its stake in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after acquiring an additional 7,802 shares during the last quarter. Nordea Investment Management AB grew its holdings in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after acquiring an additional 119,769 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent research reports. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price objective for the company. The Goldman Sachs Group raised their target price on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Piper Sandler reiterated a "neutral" rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their target price on shares of Workday from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $292.25.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 382,347 shares of company stock worth $99,225,903. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

Workday stock traded down $3.71 during mid-day trading on Monday, hitting $246.00. The company had a trading volume of 2,253,024 shares, compared to its average volume of 2,017,675. The company has a market capitalization of $65.44 billion, a price-to-earnings ratio of 40.80, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company's fifty day moving average is $262.65 and its 200-day moving average is $246.28. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business earned $0.47 EPS. Workday's quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 2.58 EPS for the current year.

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.