Hollencrest Capital Management Has $233,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Hollencrest Capital Management raised its position in Workday, Inc. (NASDAQ:WDAY) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the software maker’s stock after acquiring an additional 120 shares during the period. Hollencrest Capital Management’s holdings in Workday were worth $233,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Workday in the 1st quarter worth $27,000. Sound Income Strategies LLC boosted its holdings in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the period. SouthState Corp boosted its position in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the period. Asset Dedication LLC acquired a new position in shares of Workday during the 2nd quarter worth approximately $36,000. Finally, PSI Advisors LLC acquired a new position in Workday in the second quarter valued at about $38,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, June 28th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’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 sale, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 410,402 shares of company stock worth $95,751,554. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 0.4 %

Shares of NASDAQ WDAY opened at $247.43 on Friday. The stock has a 50-day moving average price of $237.12 and a two-hundred day moving average price of $242.47. The company has a market cap of $65.57 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group dropped their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Bank of America increased their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday. Finally, Morgan Stanley dropped their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average target price of $286.48.

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.