Arcus Capital Partners LLC Increases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Arcus Capital Partners LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 28.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,962 shares of the software maker's stock after buying an additional 3,075 shares during the period. Workday comprises approximately 1.3% of Arcus Capital Partners LLC's investment portfolio, making the stock its 13th biggest holding. Arcus Capital Partners LLC's holdings in Workday were worth $3,261,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in Workday by 5.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock worth $5,288,000 after buying an additional 1,070 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Workday by 13.9% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after acquiring an additional 139 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Workday in the first quarter valued at approximately $290,000. Golden State Wealth Management LLC increased its holdings in Workday by 9,166.7% in the 1st quarter. Golden State Wealth Management LLC now owns 278 shares of the software maker's stock worth $65,000 after acquiring an additional 275 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Workday by 230.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

Shares of WDAY traded down $5.07 during mid-day trading on Friday, reaching $224.23. 1,406,691 shares of the company's stock were exchanged, compared to its average volume of 2,478,343. The business's fifty day simple moving average is $248.80 and its 200-day simple moving average is $248.82. The stock has a market capitalization of $59.87 billion, a PE ratio of 123.88, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

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

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director owned 67,500 shares in the company, valued at approximately $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,554 shares of company stock worth $79,097,601. 19.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WDAY shares. Stifel Nicolaus lowered their target price on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Loop Capital decreased their price target on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. KeyCorp reduced their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, Morgan Stanley set a $255.00 price objective on shares of Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $296.88.

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.