SVB Wealth LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

SVB Wealth LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, HoldingsChannel reports. The firm acquired 21,733 shares of the software maker’s stock, valued at approximately $5,608,000.

A number of other large investors have also recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of Workday during the fourth quarter valued at $26,000. Roxbury Financial LLC bought a new stake in Workday in the 4th quarter valued at about $25,000. Avion Wealth boosted its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the period. Capital Performance Advisors LLP bought a new position in Workday in the 3rd quarter worth about $26,000. Finally, Meeder Asset Management Inc. increased its stake 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 purchasing an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Up 1.1 %

WDAY stock opened at $263.34 on Friday. The company’s 50 day simple moving average is $259.69 and its 200-day simple moving average is $254.92. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 firm has a market capitalization of $70.05 billion, a P/E ratio of 43.67, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

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 transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 433,321 shares of company stock valued at $111,763,803. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WDAY. Wells Fargo & Company boosted their price objective on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets raised their price target on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Redburn Atlantic started coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Scotiabank boosted their price target on shares of Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Ten 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

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.