Zions Bancorporation N.A. Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

Zions Bancorporation N.A. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 33.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,917 shares of the software maker’s stock after acquiring an additional 4,937 shares during the quarter. Zions Bancorporation N.A.’s holdings in Workday were worth $5,139,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WDAY. Simplicity Wealth LLC raised its stake in Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after purchasing an additional 37 shares during the period. Marcum Wealth LLC increased its holdings in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC raised its position in shares of Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the period. AllSquare Wealth Management LLC grew its position in Workday by 19.4% during the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after acquiring an additional 41 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $249.91 on Tuesday. The stock has a market capitalization of $66.48 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38. The firm’s 50-day moving average price is $256.83 and its two-hundred day moving average price is $255.05. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Insider Activity

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 417,001 shares of company stock valued at $105,735,200. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. Mizuho boosted their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Guggenheim reiterated a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price objective on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and raised their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $300.36.

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.