Fiduciary Family Office LLC Makes New $772,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Fiduciary Family Office LLC acquired a new position in Workday, Inc. valued at approximately $772,000, purchasing 3,306 shares in the first quarter.
• Institutional investors own 89.81% of Workday's stock, indicating strong confidence among financial institutions.
• Analysts have mixed ratings on Workday, with the stock receiving a consensus rating of "Moderate Buy" and a target price of $296.88.

Fiduciary Family Office LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,306 shares of the software maker's stock, valued at approximately $772,000.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in shares of Workday by 5.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after acquiring an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Workday by 13.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock valued at $265,000 after acquiring an additional 139 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Workday by 33.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after acquiring an additional 8,093 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Workday in the 1st quarter valued at approximately $290,000. Finally, D.A. Davidson & CO. raised its stake in shares of Workday by 27.8% in the 1st quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after acquiring an additional 348 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler reissued an "underweight" rating and issued a $235.00 price objective (down from $255.00) on shares of Workday in a research note on Thursday, July 10th. JMP Securities reissued a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Loop Capital dropped their price target on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. DA Davidson lifted their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $340.00 price target on shares of Workday in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Price Performance

WDAY stock traded up $1.09 during trading on Friday, hitting $222.07. The company had a trading volume of 2,386,346 shares, compared to its average volume of 2,506,795. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The company has a market cap of $59.29 billion, a P/E ratio of 122.69, a P/E/G ratio of 3.36 and a beta of 1.24. The company has a fifty day moving average price of $237.71 and a two-hundred day moving average price of $245.15. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 earnings per share. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the transaction, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 329,005 shares of company stock valued at $79,203,523. 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.