Blue Trust Inc. Acquires 650 Shares of Workday, Inc. (NASDAQ:WDAY)

Blue Trust Inc. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,975 shares of the software maker’s stock after purchasing an additional 650 shares during the period. Blue Trust Inc.’s holdings in Workday were worth $695,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Geode Capital Management LLC lifted its stake in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock worth $960,454,000 after purchasing an additional 1,406,088 shares during the period. Brown Advisory Inc. lifted its stake in Workday by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock worth $911,027,000 after purchasing an additional 52,104 shares during the period. Finally, FIL Ltd lifted its stake in Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker’s stock worth $764,575,000 after purchasing an additional 181,899 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $238.19 on Friday. The firm has a market cap of $63.60 billion, a PE ratio of 131.60, a price-to-earnings-growth ratio of 3.58 and a beta of 1.24. The firm’s fifty day moving average is $247.01 and its 200-day moving average is $252.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. Workday’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 earnings per share. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WDAY. Piper Sandler reiterated a “neutral” rating and issued a $255.00 target price (up previously from $230.00) on shares of Workday in a research note on Friday, May 23rd. Westpark Capital lifted their target price on shares of Workday from $315.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. BMO Capital Markets lifted their target price on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. UBS Group lifted their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup cut shares of Workday from a “neutral” rating to a “mixed” rating in a research note on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.54.

Insider Buying and Selling at Workday

In related 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 transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,906 shares of company stock valued at $59,549,619. Corporate insiders own 19.31% of the company’s stock.

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.