Bristlecone Advisors LLC Has $754,000 Stake in Workday, Inc. (NASDAQ:WDAY)

Bristlecone Advisors LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 49.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,921 shares of the software maker's stock after acquiring an additional 968 shares during the period. Bristlecone Advisors LLC's holdings in Workday were worth $754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Sanctuary Advisors LLC increased its stake in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP purchased a new position in shares of Workday during the 3rd quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after acquiring an additional 7,802 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after purchasing an additional 119,769 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker's stock valued at $10,833,000 after acquiring an additional 7,175 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Workday stock traded down $6.88 during trading hours on Tuesday, hitting $263.00. 2,601,695 shares of the stock were exchanged, compared to its average volume of 2,098,405. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $69.96 billion, a P/E ratio of 43.62, a P/E/G ratio of 3.78 and a beta of 1.35. The business's 50-day moving average is $262.45 and its two-hundred day moving average is $250.89. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on WDAY. The Goldman Sachs Group upped their price target on shares of Workday from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price target on Workday from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Citigroup decreased their target price on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada raised their target price on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Finally, Bank of America cut their price objective on shares of Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $292.43.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 70,090 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. This represents a 40.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last ninety days. 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.