Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Hennion & Walsh Asset Management Inc. boosted its position in Workday, Inc. (NASDAQ:WDAY) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,764 shares of the software maker’s stock after acquiring an additional 285 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Workday were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connective Portfolio Management LLC purchased a new stake in Workday in the 4th quarter worth approximately $310,000. Sendero Wealth Management LLC grew its stake in shares of Workday by 47.7% during the 4th quarter. Sendero Wealth Management LLC now owns 6,203 shares of the software maker’s stock valued at $1,601,000 after buying an additional 2,003 shares during the period. Park Avenue Securities LLC grew its stake in shares of Workday by 9.1% during the 4th quarter. Park Avenue Securities LLC now owns 9,105 shares of the software maker’s stock valued at $2,349,000 after buying an additional 760 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Workday during the 4th quarter valued at $545,000. Finally, Oak Thistle LLC grew its stake in shares of Workday by 70.8% during the 4th quarter. Oak Thistle LLC now owns 10,900 shares of the software maker’s stock valued at $2,813,000 after buying an additional 4,519 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 70,090 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated 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 approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last quarter. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $249.64 on Tuesday. The firm has a market cap of $66.40 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. The firm’s 50-day simple moving average is $262.40 and its 200-day simple moving average is $246.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. Equities analysts forecast that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of several research reports. Oppenheimer reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Citigroup lowered their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Piper Sandler reissued a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $292.25.

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.