Assetmark Inc. Buys 1,933 Shares of Workday, Inc. (NASDAQ:WDAY)

Assetmark Inc. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,414 shares of the software maker’s stock after buying an additional 1,933 shares during the period. Assetmark Inc.’s holdings in Workday were worth $5,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC boosted its stake in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after buying an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its holdings in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares in the last quarter. Clear Street Markets LLC bought a new stake in shares of Workday during the 3rd quarter valued at about $29,000. Exchange Traded Concepts LLC grew its holdings in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Workday in the fourth quarter worth approximately $33,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on WDAY. Wells Fargo & Company lifted their target price on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Canaccord Genuity Group lowered their price objective on shares of Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday. Guggenheim reiterated a “sell” rating and issued a $190.00 target price on shares of Workday in a research report on Tuesday, February 27th. JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. Finally, TheStreet raised Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $286.00.

Workday Stock Performance

Workday stock opened at $260.90 on Friday. Workday, Inc. has a 1-year low of $191.04 and a 1-year high of $311.28. The firm has a market cap of $68.88 billion, a P/E ratio of 50.66, a P/E/G ratio of 7.75 and a beta of 1.33. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $260.89 and a 200-day moving average of $268.88.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Sell-side analysts expect that Workday, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the 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 completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock valued at $117,731,569 over the last quarter. 20.00% of the stock is owned by company insiders.

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.