Workday, Inc. (NASDAQ:WDAY) Stock Position Raised by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,201 shares of the software maker’s stock after purchasing an additional 267 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Workday were worth $17,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bristlecone Advisors LLC boosted its position in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after acquiring an additional 968 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the period. Nordea Investment Management AB grew its position in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in Workday in the 4th quarter valued at approximately $369,000. Finally, Principal Financial Group Inc. lifted its position in Workday by 45.0% in the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock worth $4,349,000 after buying an additional 5,519 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 296,424 shares of company stock worth $74,332,103 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Jefferies Financial Group cut their price objective on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a report on Monday, March 31st. Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Finally, BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.18.

Workday Price Performance

Shares of Workday stock opened at $210.47 on Wednesday. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.55 and a beta of 1.32. The firm’s 50-day moving average price is $251.02 and its two-hundred day moving average price is $253.33. 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 $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, equities analysts predict that Workday, Inc. will post 2.63 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.