Ironwood Investment Counsel LLC Purchases 5,726 Shares of Workday, Inc. $WDAY

Ironwood Investment Counsel LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,948 shares of the software maker’s stock after acquiring an additional 5,726 shares during the period. Ironwood Investment Counsel LLC’s holdings in Workday were worth $4,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Workday in the 4th quarter worth about $448,804,000. Harvest Fund Management Co. Ltd lifted its holdings in Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Workday by 18.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after buying an additional 88,384 shares in the last quarter. Aurora Investment Counsel acquired a new position in Workday in the fourth quarter valued at about $2,357,000. Finally, Morningstar Investment Management LLC grew its stake in Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. The trade was a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by insiders.

Workday Stock Performance

Workday stock opened at $144.78 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a market cap of $35.76 billion, a PE ratio of 45.24, a PEG ratio of 1.55 and a beta of 1.11. The company’s 50-day moving average is $131.46 and its two-hundred day moving average is $144.02.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 EPS. Equities analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on WDAY. TD Cowen restated a “hold” rating on shares of Workday in a research report on Friday, May 22nd. Citigroup reissued a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. DA Davidson set a $135.00 target price on Workday in a research note on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Finally, Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.