Cornercap Investment Counsel Inc. Makes New $1.20 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Cornercap Investment Counsel Inc. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,340 shares of the software maker's stock, valued at approximately $1,198,000.

Other institutional investors have also recently made changes to their positions in the company. Beacon Capital Management LLC grew its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock valued at $25,000 after buying an additional 70 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Workday during the 1st quarter valued at approximately $25,000. VisionPoint Advisory Group LLC grew its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock valued at $26,000 after buying an additional 84 shares in the last quarter. Clear Street Markets LLC purchased a new position in Workday during the 3rd quarter valued at approximately $29,000. Finally, Quarry LP purchased a new position in Workday during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Down 1.5 %

Shares of WDAY traded down $4.06 during trading hours on Monday, hitting $259.63. The company had a trading volume of 1,367,445 shares, compared to its average volume of 1,791,066. The company has a market capitalization of $68.54 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 6.59 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28. The company's fifty day moving average price is $281.47 and its two-hundred day moving average price is $261.76.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) EPS. As a group, equities analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of several research analyst reports. Evercore ISI raised their price target on Workday from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, February 20th. Mizuho lifted their target price on Workday from $290.00 to $325.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. UBS Group dropped their target price on Workday from $315.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, February 27th. KeyCorp lifted their target price on Workday from $310.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, Barclays dropped their target price on Workday from $326.00 to $316.00 and set an "overweight" rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $293.61.

Insider Buying and Selling

In related news, insider Douglas A. Robinson sold 411 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director George J. Still, Jr. sold 5,000 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas A. Robinson sold 411 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders have sold a total of 379,691 shares of company stock worth $102,897,729 in the last ninety days. 21.09% of the stock is owned by insiders.

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.