Harbor Investment Advisory LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Harbor Investment Advisory LLC grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 952.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,642 shares of the software maker’s stock after purchasing an additional 1,486 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Workday were worth $424,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Workday during the 3rd quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Workday by 4,766.7% in 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 period. New Millennium Group LLC grew its position in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of Workday in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The shares were 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 owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WDAY shares. Wells Fargo & Company raised their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Royal Bank of Canada raised their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Barclays lowered their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Trading Up 0.4 %

Shares of Workday stock opened at $250.72 on Wednesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year 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 business has a 50 day moving average price of $262.11 and a 200 day moving average price of $247.11. The company has a market capitalization of $66.69 billion, a P/E ratio of 41.58, a P/E/G ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.