Legacy Financial Advisors Inc. Increases Position in Workday, Inc. (NASDAQ:WDAY)

Legacy Financial Advisors Inc. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 7.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 999 shares of the software maker’s stock after buying an additional 73 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Workday were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Dimensional Fund Advisors LP increased its stake in Workday by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock worth $55,020,000 after buying an additional 3,231 shares during the period. D.A. Davidson & CO. increased its position in shares of Workday by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after acquiring an additional 42 shares during the period. Corient Private Wealth LLC raised its stake in shares of Workday by 17.3% during the fourth quarter. Corient Private Wealth LLC now owns 39,094 shares of the software maker’s stock valued at $10,792,000 after acquiring an additional 5,764 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Workday by 7.5% in the fourth quarter. Advisory Services Network LLC now owns 1,981 shares of the software maker’s stock valued at $547,000 after purchasing an additional 139 shares during the period. Finally, Congress Wealth Management LLC DE grew its stake in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the sale, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,402 shares of company stock worth $109,864,184. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on WDAY. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Needham & Company LLC cut their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Bank of America boosted their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.48.

Workday Stock Performance

Shares of WDAY stock opened at $248.29 on Monday. The business has a fifty day moving average of $237.48 and a 200 day moving average of $241.95. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.39 earnings per share for the current year.

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.