Coldstream Capital Management Inc. Purchases Shares of 1,744 Workday, Inc. (NASDAQ:WDAY)

Coldstream Capital Management Inc. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,744 shares of the software maker’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Yousif Capital Management LLC grew its holdings in Workday by 4.9% during the 3rd quarter. Yousif Capital Management LLC now owns 2,266 shares of the software maker’s stock valued at $487,000 after buying an additional 105 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Workday by 1.2% in the third quarter. Private Advisor Group LLC now owns 9,548 shares of the software maker’s stock valued at $2,051,000 after purchasing an additional 112 shares in the last quarter. US Bancorp DE increased its position in Workday by 7.9% in the third quarter. US Bancorp DE now owns 105,613 shares of the software maker’s stock worth $20,933,000 after purchasing an additional 7,746 shares during the last quarter. MGO One Seven LLC raised its stake in Workday by 17.4% during the third quarter. MGO One Seven LLC now owns 1,713 shares of the software maker’s stock valued at $368,000 after purchasing an additional 254 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Workday by 10.6% during the third quarter. Corient Private Wealth LLC now owns 33,330 shares of the software maker’s stock valued at $7,254,000 after purchasing an additional 3,188 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $260.90 on Friday. The firm has a market cap of $68.88 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 7.75 and a beta of 1.33. Workday, Inc. has a 52-week low of $191.04 and a 52-week high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $260.89 and its 200 day moving average is $268.88.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. KeyCorp boosted their target price on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. TheStreet upgraded Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Bank of America dropped their target price on Workday from $330.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Morgan Stanley cut their target price on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $330.00 price target on shares of Workday in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.64.

Workday 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.