HBK Sorce Advisory LLC Takes Position in Workday Inc (WDAY)
HBK Sorce Advisory LLC acquired a new stake in Workday Inc (NASDAQ:WDAY) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,626 shares of the software maker’s stock, valued at approximately $237,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new position in Workday in the 3rd quarter valued at $185,000. Mirador Capital Partners LP acquired a new position in Workday in the 2nd quarter valued at $200,000. Athena Capital Advisors LLC bought a new stake in shares of Workday during the 3rd quarter valued at $202,000. MML Investors Services LLC bought a new stake in shares of Workday during the 3rd quarter valued at $208,000. Finally, Grassi Investment Management bought a new stake in shares of Workday during the 3rd quarter valued at $215,000. 68.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director David A. Duffield sold 1,434 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $127.25, for a total transaction of $182,476.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Shaughnessy sold 2,190 shares of the company’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $127.35, for a total value of $278,896.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,318 shares of company stock valued at $156,142,466. 33.59% of the stock is owned by corporate insiders.
Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, November 29th. The software maker reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.76. Workday had a negative return on equity of 15.98% and a negative net margin of 15.40%. The business had revenue of $743.20 million during the quarter, compared to the consensus estimate of $723.38 million. During the same period in the prior year, the company earned $0.24 EPS. Workday’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, research analysts expect that Workday Inc will post -1.05 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on WDAY shares. Royal Bank of Canada upped their target price on Workday to $159.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. UBS Group upped their target price on Workday to $169.00 and gave the company a “positive” rating in a research report on Tuesday, September 4th. Monness Crespi & Hardt upped their target price on Workday from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. BidaskClub upgraded Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 28th. Finally, Stifel Nicolaus upped their target price on Workday to $160.00 and gave the company a “hold” rating in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $155.50.
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Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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