Garde Capital Inc. Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Garde Capital Inc. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 60.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,120 shares of the software maker’s stock after purchasing an additional 1,177 shares during the quarter. Garde Capital Inc.’s holdings in Workday were worth $763,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Workday during the third quarter worth $26,000. SouthState Corp grew its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares during the period. Crewe Advisors LLC increased its position in Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after purchasing an additional 56 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in Workday during the second quarter worth about $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now directly owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 361,463 shares of company stock valued at $88,422,088. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

Workday stock opened at $274.82 on Friday. The stock’s 50 day moving average price is $253.11 and its 200 day moving average price is $238.37. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. 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 firm has a market capitalization of $72.83 billion, a PE ratio of 45.58, a price-to-earnings-growth ratio of 5.02 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts expect that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Loop Capital reduced their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Scotiabank assumed coverage on shares of Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Finally, Mizuho lifted their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $290.64.

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.