World Investment Advisors Acquires New Stake in Workday, Inc. (NASDAQ:WDAY)

World Investment Advisors acquired a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,917 shares of the software maker's stock, valued at approximately $495,000.

Several other large investors have also made changes to their positions in the business. Bristlecone Advisors LLC boosted its holdings in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Workday by 7.2% during the 3rd 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 in the last quarter. Nordea Investment Management AB increased its holdings in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after buying an additional 119,769 shares during the period. Burns Matteson Capital Management LLC bought a new position in shares of Workday during the 4th quarter worth about $369,000. Finally, Principal Financial Group Inc. boosted its position in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock valued at $4,349,000 after acquiring an additional 5,519 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 0.8 %

Shares of NASDAQ:WDAY traded up $1.77 during midday trading on Friday, hitting $226.51. The company had a trading volume of 2,203,615 shares, compared to its average volume of 2,606,894. 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 12 month low of $199.81 and a 12 month high of $294.00. The firm has a fifty day simple moving average of $248.47 and a 200 day simple moving average of $252.81. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 3.55 and a beta of 1.32.

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Workday (NASDAQ:WDAY - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased 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. Finally, Piper Sandler raised their price objective on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.18.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 377,699 shares of company stock valued at $91,780,220 in the last 90 days. 20.00% of the stock is owned by insiders.

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.