Advanced Portfolio Management LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Advanced Portfolio Management LLC purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,937 shares of the software maker's stock, valued at approximately $770,000.

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in Workday in the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new position in Workday in the 4th quarter valued at about $26,000. Avion Wealth lifted its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC purchased a new position in shares of Workday in the 4th quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of analyst reports. Mizuho cut their price objective on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Morgan Stanley cut their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Guggenheim restated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Daiwa America upgraded Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $293.62.

Workday Stock Up 1.1 %

NASDAQ WDAY traded up $2.73 during mid-day trading on Wednesday, reaching $250.52. 1,117,824 shares of the company's stock traded hands, compared to its average volume of 2,573,829. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a fifty day simple moving average of $238.57 and a 200-day simple moving average of $251.98. The company has a market cap of $66.64 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. As a group, equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock valued at $77,976,126 over the last quarter. Insiders own 20.00% of the company's stock.

Workday Company Profile

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.