Sentry Investment Management LLC Acquires Shares of 1,886 Workday, Inc. (NASDAQ:WDAY)

Sentry Investment Management LLC bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,886 shares of the software maker’s stock, valued at approximately $521,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC raised its position in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Workday during the first quarter worth $25,000. VisionPoint Advisory Group LLC raised its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Workday during the third quarter worth $29,000. Finally, Quarry LP purchased a new stake in shares of Workday during the second quarter worth $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WDAY shares. DA Davidson reaffirmed a “neutral” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. Needham & Company LLC upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group upped their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on 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 owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at $28,404,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 379,691 shares of company stock valued at $102,897,729 over the last 90 days. 21.09% of the stock is owned by corporate insiders.

Workday Stock Down 1.5 %

Shares of WDAY opened at $259.63 on Tuesday. The stock has a market capitalization of $68.54 billion, a PE ratio of 50.41, a P/E/G ratio of 6.59 and a beta of 1.32. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company’s 50-day simple moving average is $281.47 and its 200-day simple moving average is $261.76.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

About Workday

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.