Azzad Asset Management Inc. ADV Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Azzad Asset Management Inc. ADV grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,322 shares of the software maker’s stock after purchasing an additional 135 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Workday were worth $2,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WDAY. Roxbury Financial LLC acquired a new position in Workday during the 4th quarter valued at about $25,000. TCTC Holdings LLC purchased a new stake in shares of Workday during the fourth quarter worth about $35,000. Financial Management Professionals Inc. increased its holdings in shares of Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Rothschild Investment LLC boosted its stake in Workday by 169.6% in the 1st quarter. Rothschild Investment LLC now owns 213 shares of the software maker’s stock worth $50,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 2.5%

Shares of Workday stock opened at $244.54 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 company has a market cap of $65.29 billion, a P/E ratio of 40.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. The firm has a 50-day simple moving average of $245.50 and a two-hundred day simple moving average of $252.47.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the firm posted $1.74 EPS. Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. This trade represents a 44.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,338 shares of company stock valued at $56,281,251 in the last three months. 19.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. Stifel Nicolaus cut their price target on shares of Workday from $310.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, May 23rd. Guggenheim reissued a “neutral” rating on shares of Workday in a report on Friday, May 23rd. Loop Capital cut their target price on Workday from $285.00 to $250.00 and set a “hold” rating on the stock in a research report on Friday, May 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Friday, May 23rd. Finally, Oppenheimer dropped their price target on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.54.

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.