Avion Wealth Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Avion Wealth boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 452.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 105 shares of the software maker’s stock after acquiring an additional 86 shares during the quarter. Avion Wealth’s holdings in Workday were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sanctuary Advisors LLC lifted its holdings in shares of Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares in the last quarter. Bristlecone Advisors LLC lifted its stake in Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares in the last quarter. Grafton Street Partners Fund LP purchased a new stake in Workday in the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Workday by 20.5% during the 4th 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. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Loop Capital dropped their price objective on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Trading Down 1.9 %

Shares of WDAY opened at $257.92 on Thursday. The stock has a market capitalization of $68.61 billion, a P/E ratio of 42.77, a PEG ratio of 3.78 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $262.57 and a two-hundred day simple moving average of $251.13.

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

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were 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 of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

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.