Envestnet Portfolio Solutions Inc. Acquires 306 Shares of Workday, Inc. (NASDAQ:WDAY)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,750 shares of the software maker’s stock after buying an additional 306 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Workday were worth $4,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of Workday during the 4th quarter worth approximately $26,000. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter worth approximately $25,000. Avion Wealth lifted its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WDAY shares. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. Barclays lowered their target price on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Canaccord Genuity Group upped their target price on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Scotiabank lowered their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Activity

In related news, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 473,001 shares of company stock valued at $120,614,400. Company insiders own 20.00% of the company’s stock.

Workday Stock Up 0.5 %

Shares of WDAY stock opened at $251.91 on Wednesday. The stock’s 50-day simple moving average is $256.89 and its 200-day simple moving average is $255.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market capitalization of $67.01 billion, a PE ratio of 41.78, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities analysts expect 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.