Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 10.6% in the third quarter, Holdings Channel reports. The fund owned 1,412 shares of the software maker’s stock after purchasing an additional 135 shares during the period. Kovack Advisors Inc.’s holdings in Workday were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WDAY. Kingsview Wealth Management LLC grew its position in Workday by 52.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,963 shares of the software maker’s stock valued at $1,354,000 after buying an additional 1,705 shares during the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of Workday in the first quarter valued at about $220,000. Dorsey & Whitney Trust CO LLC increased its stake in shares of Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after acquiring an additional 43 shares during the period. M&G Plc purchased a new position in Workday during the first quarter worth about $2,292,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in Workday by 45.9% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,119 shares of the software maker’s stock valued at $305,000 after purchasing an additional 352 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WDAY shares. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Morgan Stanley cut their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $287.59.

Workday Trading Down 4.4 %

Shares of WDAY opened at $259.41 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a market capitalization of $68.74 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 5.39 and a beta of 1.35. The stock has a fifty day moving average of $246.64 and a two-hundred day moving average of $236.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. Insiders own 20.00% of the company’s stock.

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.