Hartford Investment Management Co. Takes $3.40 Million Position in Workday, Inc. (NASDAQ:WDAY)

Hartford Investment Management Co. bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 13,168 shares of the software maker's stock, valued at approximately $3,398,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WDAY. Capital Performance Advisors LLP bought a new stake in Workday during the 3rd quarter valued at $26,000. Crews Bank & Trust acquired a new position in shares of Workday during the fourth quarter valued at about $26,000. 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 in the last quarter. New Millennium Group LLC raised its holdings in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock worth $36,000 after acquiring an additional 94 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock worth $36,000 after acquiring an additional 143 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 5,498 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares of the company's stock, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reissued a "neutral" rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Mizuho raised their price objective on Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a 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 $292.43.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $2.08 during mid-day trading on Friday, hitting $258.05. The company had a trading volume of 1,382,014 shares, compared to its average volume of 2,045,437. 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 1 year low of $199.81 and a 1 year high of $311.28. The company has a market capitalization of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The stock's 50-day moving average price is $262.13 and its 200-day moving average price is $251.63.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating 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 business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The company's quarterly revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company 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.