Howard Capital Management Inc. Buys 163 Shares of Workday, Inc. (NASDAQ:WDAY)

Howard Capital Management Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,553 shares of the software maker’s stock after acquiring an additional 163 shares during the period. Howard Capital Management Inc.’s holdings in Workday were worth $1,433,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP raised its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares in the last quarter. KBC Group NV raised its stake in shares of Workday by 340.3% during the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after purchasing an additional 506,812 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Workday by 2,166.1% in the 4th quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock valued at $104,044,000 after acquiring an additional 385,430 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Workday in the 3rd quarter valued at about $78,003,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $291.11.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $256.39 on Monday. The firm has a 50 day moving average of $260.75 and a 200-day moving average of $253.47. The stock has a market capitalization of $68.20 billion, a PE ratio of 42.52, a PEG ratio of 3.55 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results 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 firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were 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 $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

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.