Red Crane Wealth Management LLC Takes $361,000 Position in Workday, Inc. (NASDAQ:WDAY)

Red Crane Wealth Management LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,400 shares of the software maker’s stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Marcum Wealth LLC raised its position in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the last quarter. Custom Index Systems LLC grew its stake in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the period. Kingsview Wealth Management LLC increased its position in shares of Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in Workday by 1.3% in the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock valued at $954,000 after acquiring an additional 48 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $291.11.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $255.22 on Wednesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company’s 50 day simple moving average is $259.97 and its 200 day simple moving average is $254.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $67.89 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is owned by company 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.