Hartford Investment Management Co. Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Hartford Investment Management Co. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, Holdings Channel.com reports. The firm bought 13,168 shares of the software maker’s stock, valued at approximately $3,398,000.

Other hedge funds have also recently bought and sold shares of the company. Marcum Wealth LLC boosted its holdings in Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after acquiring an additional 41 shares during the period. Custom Index Systems LLC boosted its holdings in Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the period. Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after acquiring an additional 43 shares during the period. Finally, Opal Wealth Advisors LLC boosted its holdings in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after acquiring an additional 47 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ WDAY opened at $257.92 on Thursday. The firm has a market cap of $68.61 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 3.78 and a beta of 1.35. The company has a 50 day moving average of $262.57 and a 200-day moving average of $251.13. 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 1-year low of $199.81 and a 1-year high of $311.28.

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

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Wells Fargo & Company upped their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.43.

Insider Transactions at Workday

In related news, 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 value of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % 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. Corporate insiders own 20.00% of the company’s stock.

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.