21,733 Shares in Workday, Inc. (NASDAQ:WDAY) Bought by SVB Wealth LLC

SVB Wealth LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,733 shares of the software maker's stock, valued at approximately $5,608,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC purchased a new position in Workday in the 4th quarter worth about $6,575,000. Dynasty Wealth Management LLC grew its holdings in shares of Workday by 1.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,576 shares of the software maker's stock valued at $1,955,000 after buying an additional 133 shares in the last quarter. First American Bank grew its stake in Workday by 1.5% during the 4th quarter. First American Bank now owns 10,091 shares of the software maker's stock valued at $2,604,000 after acquiring an additional 146 shares in the last quarter. VELA Investment Management LLC grew its position in Workday by 21.7% during the fourth quarter. VELA Investment Management LLC now owns 2,725 shares of the software maker's stock valued at $703,000 after purchasing an additional 485 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Workday by 6.9% in the fourth quarter. QRG Capital Management Inc. now owns 7,668 shares of the software maker's stock worth $1,979,000 after acquiring an additional 498 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 2.4 %

NASDAQ:WDAY traded up $5.98 during mid-day trading on Wednesday, hitting $259.61. The company had a trading volume of 1,859,891 shares, compared to its average volume of 2,427,332. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The business's fifty day moving average is $258.98 and its two-hundred day moving average is $255.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $69.06 billion, a P/E ratio of 43.05, a P/E/G ratio of 3.55 and a beta of 1.35.

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 for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 over the last 90 days. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WDAY. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Needham & Company LLC restated a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their target price on shares of Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $302.14.

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.