Avestar Capital LLC Purchases Shares of 1,218 Workday, Inc. (NASDAQ:WDAY)

Avestar Capital LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,218 shares of the software maker’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Two Sigma Advisers LP grew its holdings in Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. KBC Group NV grew its holdings in Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after purchasing an additional 506,812 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Workday in the third quarter valued at approximately $78,003,000. Finally, Lindbrook Capital LLC boosted its position in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after acquiring an additional 284,266 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research reports. Mizuho increased their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. Finally, Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Insider Activity

In related news, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $258.05 on Friday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market cap of $68.64 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. 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 business has a fifty day moving average of $262.30 and a 200-day moving average of $251.24.

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