Castle Rock Wealth Management LLC Takes $1.09 Million Position in Workday, Inc. (NASDAQ:WDAY)

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

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Park Square Financial Group LLC bought a new position in Workday during the 4th quarter worth about $117,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Workday in the 4th quarter valued at approximately $117,259,000. Azzad Asset Management Inc. ADV raised its position in shares of Workday by 0.8% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 9,187 shares of the software maker's stock valued at $2,371,000 after purchasing an additional 71 shares during the last quarter. Jefferies Financial Group Inc. raised its position in Workday by 8.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker's stock worth $2,664,000 after buying an additional 770 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its position in Workday by 16.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,499 shares of the software maker's stock worth $387,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. KeyCorp cut their target price on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Citigroup lowered shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Stifel Nicolaus cut their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, JMP Securities reissued a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research note on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Up 2.4%

Shares of WDAY stock traded up $5.77 during trading hours on Friday, reaching $247.53. 3,490,326 shares of the stock were exchanged, compared to its average volume of 2,515,856. The business's fifty day moving average is $241.60 and its two-hundred day moving average is $253.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $65.84 billion, a P/E ratio of 41.05, a P/E/G 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, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm posted $1.74 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. The trade was a 39.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now directly owns 75,000 shares of the company's stock, valued at approximately $18,099,750. This represents a 9.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,793 shares of company stock worth $77,122,102. Corporate insiders own 20.00% of the company's stock.

Workday 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.