PUREfi Wealth LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

PUREfi Wealth LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,545 shares of the software maker's stock, valued at approximately $399,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp raised its holdings in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock valued at $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock valued at $482,133,000 after purchasing an additional 75,747 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WDAY. 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 note on Wednesday, November 27th. Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. Royal Bank of Canada boosted their price target on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley downgraded shares of Workday from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $291.11.

Workday Stock Performance

Shares of NASDAQ WDAY traded down $4.62 during mid-day trading on Wednesday, reaching $261.10. 2,856,556 shares of the company's stock were exchanged, compared to its average volume of 2,092,753. The firm has a 50-day moving average price of $261.59 and a two-hundred day moving average price of $252.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $69.45 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 3.51 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

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, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company's revenue for the quarter was up 15.8% on a year-over-year basis. Analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company's stock.

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.