Workday, Inc. (NASDAQ:WDAY) Stake Increased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,202 shares of the software maker’s stock after acquiring an additional 71 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Workday were worth $4,692,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC lifted its position in shares of Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC lifted its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after buying an additional 84 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Workday in the 4th quarter valued at approximately $33,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Shares of Workday stock traded down $0.71 during trading on Wednesday, hitting $226.05. The stock had a trading volume of 346,970 shares, compared to its average volume of 2,206,339. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $59.90 billion, a P/E ratio of 40.87, a PEG ratio of 5.64 and a beta of 1.35. The business has a fifty day moving average of $231.32 and a two-hundred day moving average of $262.55. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business posted $0.16 earnings per share. Workday’s revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WDAY. JPMorgan Chase & Co. lowered their price target on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a report on Friday, May 24th. Piper Sandler lowered their price target on Workday from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Mizuho lowered their price target on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Canaccord Genuity Group lowered their price target on Workday from $305.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $282.11.

Insider Activity

In related news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the sale, the insider now directly owns 66,356 shares of the company’s stock, valued at approximately $17,797,342.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.12, for a total transaction of $15,014,720.00. Following the transaction, the insider now owns 899,000 shares of the company’s stock, valued at approximately $241,039,880. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. Insiders sold a total of 518,830 shares of company stock valued at $121,906,588 over the last three months. Insiders own 20.00% of the company’s stock.

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.