Pollock Investment Advisors LLC Invests $502,000 in Workday, Inc. (NASDAQ:WDAY)

Pollock Investment Advisors LLC bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel.com reports. The firm bought 1,945 shares of the software maker’s stock, valued at approximately $502,000.

A number of other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake 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 during the last quarter. Sigma Planning Corp bought a new stake in Workday during the third quarter worth approximately $233,000. GSA Capital Partners LLP grew its position in Workday by 129.6% in the third quarter. GSA Capital Partners LLP now owns 3,196 shares of the software maker’s stock worth $781,000 after buying an additional 1,804 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of Workday by 10.6% in the third quarter. Kovack Advisors Inc. now owns 1,412 shares of the software maker’s stock valued at $345,000 after buying an additional 135 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Workday by 4.5% during the 3rd quarter. CIBC Asset Management Inc now owns 42,497 shares of the software maker’s stock valued at $10,387,000 after acquiring an additional 1,811 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. This represents a 16.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 435,829 shares of company stock valued at $113,033,319 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on WDAY. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. UBS Group upped their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, February 26th. Finally, Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Ten equities research 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. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Workday Trading Up 2.9 %

Shares of NASDAQ:WDAY opened at $244.17 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $64.95 billion, a PE ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm has a fifty day moving average price of $256.91 and a 200 day moving average price of $255.49.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.