Golden State Wealth Management LLC Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Golden State Wealth Management LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9,166.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 278 shares of the software maker’s stock after buying an additional 275 shares during the period. Golden State Wealth Management LLC’s holdings in Workday were worth $65,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WDAY. TCTC Holdings LLC bought a new position in Workday in the 4th quarter worth $35,000. Farmers & Merchants Investments Inc. bought a new position in Workday in the 1st quarter worth $32,000. Rakuten Securities Inc. boosted its holdings in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after buying an additional 66 shares during the period. Financial Management Professionals Inc. boosted its holdings in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after buying an additional 54 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in Workday by 169.6% in the 1st quarter. Rothschild Investment LLC now owns 213 shares of the software maker’s stock worth $50,000 after buying an additional 134 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Up 1.1%

WDAY stock opened at $240.00 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company’s 50 day moving average is $248.50 and its two-hundred day moving average is $250.34. The stock has a market cap of $64.08 billion, a P/E ratio of 132.60, a PEG ratio of 3.59 and a beta of 1.24.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm posted $1.74 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the transaction, the insider owned 102,997 shares of the company’s stock, valued at $24,581,264.02. The trade was a 41.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $241.23, for a total value of $753,843.75. Following the transaction, the chief executive officer directly owned 7,722 shares of the company’s stock, valued at $1,862,778.06. This trade represents a 28.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,733 shares of company stock valued at $59,649,301 over the last 90 days. Company insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $340.00 price objective on shares of Workday in a report on Friday, May 23rd. Oppenheimer reduced their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 23rd. Daiwa America raised shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Piper Sandler restated a “neutral” rating and set a $255.00 price objective (up from $230.00) on shares of Workday in a report on Friday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $297.68.

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.