Johnson Investment Counsel Inc. Makes New $503,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Johnson Investment Counsel Inc. bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,152 shares of the software maker's stock, valued at approximately $503,000.

A number of other institutional investors have also added to or reduced their stakes in WDAY. Brighton Jones LLC increased its position in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after purchasing an additional 2,792 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Workday during the 4th quarter valued at about $8,984,000. Bank Pictet & Cie Europe AG grew its position in shares of Workday by 24.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after buying an additional 595 shares during the last quarter. Allworth Financial LP grew its position in shares of Workday by 24.9% in the 4th quarter. Allworth Financial LP now owns 1,244 shares of the software maker's stock worth $315,000 after buying an additional 248 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its position in shares of Workday by 22.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,825 shares of the software maker's stock worth $729,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded up $1.31 on Friday, hitting $238.19. 5,152,801 shares of the company's stock traded hands, compared to its average volume of 2,460,578. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm's 50-day moving average price is $247.01 and its two-hundred day moving average price is $251.83. The firm has a market capitalization of $63.60 billion, a PE ratio of 131.60, a P/E/G ratio of 3.60 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the business posted $1.74 EPS. The business's revenue was up 12.6% compared to the same quarter last year. As a group, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp cut their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Oppenheimer cut their price objective on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Canaccord Genuity Group lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 70,144 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,776,029.22. The trade was a 40.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares of the company's stock, valued at $2,544,814.67. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,906 shares of company stock worth $59,549,619 in the last three months. Company 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.