Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Wealth Enhancement Advisory Services LLC raised its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,545 shares of the software maker's stock after buying an additional 1,469 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Workday were worth $9,468,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WDAY. Vanguard Group Inc. raised its position in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday during the 4th quarter worth approximately $658,735,000. Norges Bank acquired a new stake in shares of Workday during the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC grew its stake in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC grew its stake in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,762 shares of company stock valued at $41,995,382. Corporate insiders own 20.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WDAY. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Daiwa America raised shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Morgan Stanley set a $255.00 target price on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, May 21st. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average price target of $293.54.

Workday Trading Down 0.7%

NASDAQ:WDAY opened at $236.58 on Tuesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The firm has a market cap of $63.17 billion, a price-to-earnings ratio of 130.71, a P/E/G ratio of 3.60 and a beta of 1.24. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The company's 50 day moving average is $247.10 and its 200-day moving average is $251.63.

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

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.

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