Azimuth Capital Investment Management LLC Purchases 15,112 Shares of Workday, Inc. (NASDAQ:WDAY)

Azimuth Capital Investment Management LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAYFree Report) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,588 shares of the software maker’s stock after buying an additional 15,112 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Workday were worth $15,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WDAY. Vanguard Group Inc. grew its position in Workday by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after acquiring an additional 263,994 shares during the last quarter. Norges Bank bought a new position in shares of Workday in the fourth quarter worth about $1,491,149,000. Wellington Management Group LLP increased its stake in Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares during the period. Polen Capital Management LLC lifted its holdings in Workday by 2.0% during the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after buying an additional 78,352 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho cut their price objective on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. KeyCorp dropped their price target on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. UBS Group cut their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Finally, Piper Sandler reduced their target price on shares of Workday from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $283.96.

Read Our Latest Report on Workday

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the sale, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares in the company, valued at approximately $43,759,913.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares in the company, valued at $28,404,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 518,042 shares of company stock valued at $134,777,415. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Up 0.3 %

Shares of WDAY traded up $0.61 during mid-day trading on Friday, hitting $215.56. 2,412,756 shares of the company’s stock were exchanged, compared to its average volume of 3,715,735. The stock’s 50-day moving average is $247.61 and its 200-day moving average is $267.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday, Inc. has a fifty-two week low of $201.42 and a fifty-two week high of $311.28. The company has a market cap of $56.91 billion, a price-to-earnings ratio of 38.84, a P/E/G ratio of 6.51 and a beta of 1.33.

Workday (NASDAQ:WDAYGet Free Report) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Workday Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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