Beech Hill Advisors Inc. Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Beech Hill Advisors Inc. increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 13.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,574 shares of the software maker’s stock after acquiring an additional 770 shares during the period. Beech Hill Advisors Inc.’s holdings in Workday were worth $1,696,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Workday during the 3rd quarter worth $26,000. Meeder Asset Management Inc. boosted its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. True Wealth Design LLC increased its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after acquiring an additional 143 shares during the last quarter. New Millennium Group LLC raised its stake in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after acquiring an additional 94 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Workday in the 2nd quarter worth approximately $35,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of WDAY stock traded up $2.79 during mid-day trading on Thursday, hitting $251.36. The stock had a trading volume of 86,682 shares, compared to its average volume of 1,956,013. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company’s 50-day simple moving average is $262.75 and its 200-day simple moving average is $246.44. The firm has a market cap of $66.86 billion, a PE ratio of 41.68, a PEG ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Sell-side analysts anticipate that Workday, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Wells Fargo & Company boosted their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Oppenheimer restated an “outperform” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, December 3rd. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.