Summit Investment Advisors Inc. Has $2.28 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Summit Investment Advisors Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,852 shares of the software maker's stock after buying an additional 2,443 shares during the period. Summit Investment Advisors Inc.'s holdings in Workday were worth $2,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Norges Bank purchased a new position in Workday during the 4th quarter worth $645,710,000. Parnassus Investments LLC increased its position in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock valued at $478,846,000 after purchasing an additional 939,955 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last quarter. 20.00% of the stock is owned by company insiders.

Workday Stock Performance

WDAY stock traded down $6.69 during trading hours on Friday, reaching $221.02. The stock had a trading volume of 1,894,875 shares, compared to its average volume of 2,614,756. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market capitalization of $58.79 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The stock has a 50-day simple moving average of $244.84 and a 200 day simple moving average of $252.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, March 24th. UBS Group raised their price target on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Scotiabank cut their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, Canaccord Genuity Group raised their price target on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.25.

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.