Castle Rock Wealth Management LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Castle Rock Wealth Management LLC bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,219 shares of the software maker's stock, valued at approximately $1,089,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Janney Montgomery Scott LLC boosted its position in Workday by 12.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,575 shares of the software maker's stock worth $5,567,000 after purchasing an additional 2,347 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after purchasing an additional 2,792 shares during the period. RFG Advisory LLC boosted its holdings in shares of Workday by 11.4% in the fourth quarter. RFG Advisory LLC now owns 1,890 shares of the software maker's stock worth $488,000 after buying an additional 193 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Workday during the fourth quarter valued at approximately $230,000. Finally, Fifth Third Bancorp grew its position in Workday by 4.8% during the fourth quarter. Fifth Third Bancorp now owns 9,251 shares of the software maker's stock valued at $2,387,000 after buying an additional 423 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Price Performance

Workday stock traded up $5.77 during mid-day trading on Friday, reaching $247.53. 3,490,326 shares of the company's stock traded hands, compared to its average volume of 2,533,829. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $241.70 and a two-hundred day moving average of $253.71. The company has a market cap of $65.84 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the company earned $1.74 EPS. The business's revenue was up 12.6% compared to the same quarter last year. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $241.23, for a total value of $753,843.75. Following the sale, the chief executive officer now directly owns 7,722 shares of the company's stock, valued at $1,862,778.06. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 318,793 shares of company stock worth $77,122,102 over the last ninety days. Company insiders own 20.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WDAY shares. Westpark Capital lifted their price target on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Canaccord Genuity Group boosted their price target on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $293.54.

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.