Avantax Advisory Services Inc. Acquires 3,106 Shares of Workday, Inc. (NASDAQ:WDAY)

Avantax Advisory Services Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,698 shares of the software maker's stock after acquiring an additional 3,106 shares during the period. Avantax Advisory Services Inc.'s holdings in Workday were worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WDAY. Principal Financial Group Inc. raised its stake in shares of Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after acquiring an additional 5,519 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of Workday during the third quarter worth approximately $233,000. GSA Capital Partners LLP raised its stake in shares of Workday by 129.6% during the third quarter. GSA Capital Partners LLP now owns 3,196 shares of the software maker's stock worth $781,000 after buying an additional 1,804 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Workday by 10.6% during the third quarter. Kovack Advisors Inc. now owns 1,412 shares of the software maker's stock worth $345,000 after buying an additional 135 shares during the last quarter. Finally, Cable Hill Partners LLC bought a new stake in shares of Workday during the third quarter worth approximately $211,000. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and boosted their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Redburn Atlantic assumed coverage on shares of Workday in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Oppenheimer boosted their price target on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and an average price target of $302.14.

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Workday Stock Performance

Shares of NASDAQ WDAY traded up $6.95 during mid-day trading on Friday, reaching $244.17. 1,365,926 shares of the company were exchanged, compared to its average volume of 2,421,608. The company's 50-day simple moving average is $256.91 and its 200-day simple moving average is $255.49. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $64.95 billion, a P/E ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 435,829 shares of company stock worth $113,033,319 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Company 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.