Avestar Capital LLC Invests $314,000 in Workday, Inc. (NASDAQ:WDAY)

Avestar Capital LLC bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,218 shares of the software maker's stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sawgrass Asset Management LLC acquired a new stake in Workday during the fourth quarter valued at $11,173,000. Warren Street Wealth Advisors LLC bought a new position in shares of Workday in the fourth quarter worth about $252,000. Values First Advisors Inc. increased its stake in shares of Workday by 201.9% in the fourth quarter. Values First Advisors Inc. now owns 3,740 shares of the software maker's stock worth $965,000 after purchasing an additional 2,501 shares during the period. Avion Wealth increased its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Workday by 34.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 217,149 shares of the software maker's stock valued at $54,687,000 after acquiring an additional 56,230 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WDAY shares. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Thursday, February 6th. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $292.43.

Workday Stock Performance

Workday stock traded up $6.49 during trading hours on Tuesday, hitting $264.54. The company had a trading volume of 940,132 shares, compared to its average volume of 2,019,094. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a 50-day moving average of $261.69 and a 200 day moving average of $252.05. The firm has a market cap of $70.37 billion, a PE ratio of 43.90, a PEG ratio of 3.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the firm earned $0.47 earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares of the company's stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by company insiders.

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.