Ameriprise Financial Inc. Has $70.69 Million Position in Workday, Inc. (NASDAQ:WDAY)

Ameriprise Financial Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,927 shares of the software maker's stock after purchasing an additional 30,697 shares during the period. Ameriprise Financial Inc. owned approximately 0.10% of Workday worth $70,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in Workday during the fourth quarter worth $26,000. Avion Wealth raised its holdings in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in Workday during the fourth quarter worth $35,000. Finally, Rakuten Securities Inc. increased its position in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 1.4%

NASDAQ WDAY traded up $3.84 during trading on Thursday, reaching $275.01. 576,808 shares of the stock traded hands, compared to its average volume of 2,563,244. The firm has a market cap of $73.15 billion, a price-to-earnings ratio of 45.58, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two 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. The stock's 50-day moving average price is $239.33 and its 200 day moving average price is $252.78.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results 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 net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 497 shares of the 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 sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Westpark Capital began coverage on Workday in a research report on Tuesday, May 6th. They issued a "buy" rating and a $315.00 target price for the company. Royal Bank of Canada raised their target price on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their target price on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Mizuho decreased their price target on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.62.

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.