Greykasell Wealth Strategies Inc. Invests $1.05 Million in Workday, Inc. (NASDAQ:WDAY)

Greykasell Wealth Strategies Inc. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,060 shares of the software maker's stock, valued at approximately $1,047,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Crews Bank & Trust bought a new stake in Workday in the fourth quarter worth about $26,000. Roxbury Financial LLC bought a new stake in shares of Workday in the 4th quarter worth approximately $25,000. Avion Wealth lifted its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares during the period. Finally, True Wealth Design LLC grew its holdings in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after purchasing an additional 143 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock worth $113,033,319 over the last 90 days. 20.00% of the stock is owned by company insiders.

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Workday Trading Up 2.9 %

Shares of NASDAQ:WDAY traded up $6.95 during trading on Friday, reaching $244.17. 1,365,926 shares of the company traded hands, compared to its average volume of 2,421,608. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The firm has a market capitalization of $64.95 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38. The business's fifty day moving average is $256.91 and its 200-day moving average is $255.46.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.18 billion. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDAY. Royal Bank of Canada upped their price target on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Oppenheimer boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and lifted their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $302.14.

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.