Connecticut Wealth Management LLC Invests $233,000 in Workday, Inc. (NASDAQ:WDAY)

Connecticut Wealth Management LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 844 shares of the software maker’s stock, valued at approximately $233,000.

Several other institutional investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. grew its holdings in shares of Workday by 1.9% in the third quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after purchasing an additional 263,994 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares during the last quarter. Polen Capital Management LLC lifted its holdings in shares of Workday by 2.0% in the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after acquiring an additional 78,352 shares during the last quarter. Morgan Stanley grew its position in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Workday by 8.5% during the third quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock worth $564,976,000 after acquiring an additional 206,112 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WDAY. Barclays decreased their price objective on shares of Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Wells Fargo & Company increased their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Morgan Stanley cut their price target on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Finally, Citigroup increased their price objective on Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $293.61.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the transaction, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 in the last ninety days. Insiders own 21.09% of the company’s stock.

Workday Stock Down 2.2 %

Shares of WDAY stock traded down $5.75 during trading hours on Monday, reaching $250.03. 1,789,705 shares of the stock were exchanged, compared to its average volume of 1,828,099. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The business’s fifty day moving average is $268.07 and its two-hundred day moving average is $265.53. 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 firm has a market capitalization of $66.01 billion, a P/E ratio of 48.59, a P/E/G ratio of 6.39 and a beta of 1.33.

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

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.