Kestra Investment Management LLC Invests $95,000 in Workday, Inc. (NASDAQ:WDAY)

Kestra Investment Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 368 shares of the software maker’s stock, valued at approximately $95,000.

A number of other hedge funds have also made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its holdings in shares of Workday by 22.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,825 shares of the software maker’s stock valued at $729,000 after acquiring an additional 520 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Workday by 8.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 43,053 shares of the software maker’s stock worth $11,109,000 after purchasing an additional 3,350 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Workday by 2.2% during the 4th quarter. Truist Financial Corp now owns 67,462 shares of the software maker’s stock worth $17,407,000 after purchasing an additional 1,483 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Workday by 180.8% during the 4th quarter. CIBC Asset Management Inc now owns 119,321 shares of the software maker’s stock worth $30,788,000 after purchasing an additional 76,824 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Workday by 222.7% during the 4th quarter. Catalyst Capital Advisors LLC now owns 526 shares of the software maker’s stock worth $136,000 after buying an additional 363 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on WDAY shares. The Goldman Sachs Group raised their target price on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their target price on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.11.

Insider Activity

In related news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the sale, the insider now owns 284,000 shares of the company’s stock, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by insiders.

Workday Price Performance

NASDAQ:WDAY opened at $261.63 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $261.10 and its two-hundred day moving average price is $252.54. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 43.39, a P/E/G ratio of 3.62 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current 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.