Azimuth Capital Investment Management LLC Has $19.51 Million Stock Position in Workday, Inc. $WDAY

Azimuth Capital Investment Management LLC grew its stake in Workday, Inc. (NASDAQ:WDAY) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,060 shares of the software maker’s stock after purchasing an additional 14,851 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Workday were worth $19,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WDAY. Brighton Jones LLC grew its position in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the period. Empowered Funds LLC lifted its holdings in shares of Workday by 12.1% during the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after acquiring an additional 1,206 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Workday in the 2nd quarter valued at $281,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Workday in the 2nd quarter worth about $608,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Down 0.8%

Shares of NASDAQ:WDAY opened at $133.09 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm has a market cap of $35.00 billion, a P/E ratio of 51.59, a P/E/G ratio of 1.29 and a beta of 1.16. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The company’s 50-day moving average price is $164.66 and its two-hundred day moving average price is $205.99.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. Rosenblatt Securities cut their price target on shares of Workday from $180.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group decreased their price objective on shares of Workday from $238.00 to $206.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Wall Street Zen lowered shares of Workday from a “buy” rating to a “hold” rating in a report on Saturday. Loop Capital set a $210.00 target price on shares of Workday in a research note on Thursday. Finally, UBS Group reduced their target price on Workday from $170.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Insiders Place Their Bets

In other Workday news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the transaction, the chief financial officer directly owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 953 shares of Workday stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $209.56, for a total value of $199,710.68. Following the completion of the sale, the chief accounting officer directly owned 35,336 shares of the company’s stock, valued at $7,405,012.16. This trade represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 610,796 shares of company stock valued at $107,013,566 over the last quarter. Company insiders own 19.31% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.