Marcum Wealth LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Marcum Wealth LLC boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 823 shares of the software maker’s stock after buying an additional 73 shares during the period. Marcum Wealth LLC’s holdings in Workday were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WDAY. Vontobel Holding Ltd. boosted its position in shares of Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after acquiring an additional 3,260 shares during the last quarter. Morgan Stanley grew its stake in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after buying an additional 872,288 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after buying an additional 1,933 shares during the last quarter. Bornite Capital Management LP purchased a new stake in shares of Workday during the 4th quarter valued at $34,508,000. Finally, Bain Capital Public Equity LP lifted its holdings in shares of Workday by 32.5% during the 4th quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after acquiring an additional 5,513 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the transaction, the insider now owns 786,000 shares in the company, valued at approximately $164,407,620. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $21,658,209.16. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock valued at $97,038,313 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 2.1 %

WDAY opened at $219.09 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52 week low of $202.01 and a 52 week high of $311.28. The stock has a market cap of $58.06 billion, a PE ratio of 39.48, a PEG ratio of 5.42 and a beta of 1.33. The business has a 50 day moving average of $236.14 and a 200-day moving average of $265.17.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Equities research analysts predict that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Barclays lowered their price target on Workday from $316.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Friday, May 24th. Bank of America decreased their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Workday in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.11.

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.