Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,666 shares of the software maker’s stock after purchasing an additional 426 shares during the quarter. Merit Financial Group LLC’s holdings in Workday were worth $623,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter valued at about $25,000. Avion Wealth boosted its position in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the period. TCTC Holdings LLC purchased a new position in Workday in the 4th quarter valued at approximately $35,000. Rakuten Securities Inc. lifted its position in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Rothschild Investment LLC boosted its stake in Workday by 169.6% in the first quarter. Rothschild Investment LLC now owns 213 shares of the software maker’s stock valued at $50,000 after acquiring an additional 134 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director now directly owns 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,838 shares of company stock valued at $61,738,776 in the last quarter. Company insiders own 19.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WDAY shares. JPMorgan Chase & Co. dropped their target price on Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Mizuho lowered their target price on Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Redburn Atlantic assumed coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, UBS Group lifted their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.54.

Workday Price Performance

WDAY opened at $252.90 on Tuesday. The company’s 50 day simple moving average is $242.94 and its 200-day simple moving average is $252.78. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock has a market capitalization of $67.52 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. 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 (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the business earned $1.74 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.