HighPoint Advisor Group LLC Acquires Shares of 2,997 Workday, Inc. (NASDAQ:WDAY)

HighPoint Advisor Group LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,997 shares of the software maker’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC increased its stake in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after buying an additional 70 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Workday by 1,750.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Workday in the fourth quarter valued at $33,000. VisionPoint Advisory Group LLC increased its position in Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Finally, Clear Street Markets LLC bought a new stake in Workday during the 3rd quarter worth about $29,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 2.2 %

NASDAQ WDAY opened at $207.69 on Wednesday. The company has a market cap of $55.04 billion, a PE ratio of 37.42, a PEG ratio of 6.37 and a beta of 1.33. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28. The stock has a 50 day moving average of $239.30 and a 200-day moving average of $266.30.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business earned $0.16 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Jefferies Financial Group dropped their price objective on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wells Fargo & Company dropped their price objective on Workday from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Mizuho dropped their price objective on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. Morgan Stanley dropped their price objective on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Barclays dropped their price objective on Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $283.96.

Insider Activity at Workday

In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at approximately $17,797,342.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 64,162 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,981,194.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 448,713 shares of company stock worth $112,547,513. Company insiders own 20.00% of the company’s stock.

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.