Clearstead Trust LLC Takes Position in Workday, Inc. (NASDAQ:WDAY)

Clearstead Trust LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,457 shares of the software maker’s stock, valued at approximately $678,000.

A number of other institutional investors have also added to or reduced their stakes in WDAY. ORG Partners LLC raised its holdings in shares of Workday by 1.2% during the 4th quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after buying an additional 34 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in Workday by 8.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after acquiring an additional 36 shares in the last quarter. Meitav Investment House Ltd. lifted its holdings in shares of Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after acquiring an additional 36 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Workday by 1.7% in the fourth quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock worth $598,000 after acquiring an additional 37 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in shares of Workday by 0.9% in the 4th quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock valued at $1,294,000 after purchasing an additional 40 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Up 2.0 %

Shares of WDAY stock traded up $4.93 on Friday, reaching $255.78. 3,072,637 shares of the company were exchanged, compared to its average volume of 1,740,171. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50-day moving average of $268.07 and a 200-day moving average of $264.85. The company has a market cap of $67.53 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 6.27 and a beta of 1.33. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned ($0.14) earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. KeyCorp raised their target price on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com cut Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. TheStreet raised Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Morgan Stanley lowered their price objective on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Insiders Place Their Bets

In other news, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock valued at $117,731,569. Corporate insiders own 21.09% of the company’s stock.

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.