Abacus FCF Advisors LLC Boosts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Abacus FCF Advisors LLC boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,722 shares of the software maker's stock after purchasing an additional 3,348 shares during the quarter. Abacus FCF Advisors LLC's holdings in Workday were worth $2,767,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bristlecone Advisors LLC raised its stake in shares of Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock worth $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in shares of Workday during the 4th quarter valued at $369,000. Finally, Principal Financial Group Inc. boosted its position in shares of Workday by 45.0% in the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after purchasing an additional 5,519 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

WDAY has been the topic of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Monday, March 24th. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Oppenheimer upped their price target on shares of Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Piper Sandler lifted their price objective 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. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average price target of $300.18.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 377,699 shares of company stock valued at $91,780,220 over the last 90 days. Corporate insiders own 20.00% of the company's stock.

Workday Price Performance

WDAY traded up $1.77 during trading on Friday, hitting $226.51. The company's stock had a trading volume of 2,203,615 shares, compared to its average volume of 2,612,317. The firm has a market capitalization of $60.25 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The business's fifty day simple moving average is $248.47 and its 200 day simple moving average is $252.86. 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 (NASDAQ:WDAY - Get Free Report) last released 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). The company 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%. On average, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.