Equitable Trust Co. Has $294,000 Holdings in Workday, Inc. (NASDAQ:WDAY)

Equitable Trust Co. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,257 shares of the software maker’s stock after buying an additional 48 shares during the period. Equitable Trust Co.’s holdings in Workday were worth $294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Workday by 61.9% in 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 increased its stake in shares of Workday by 60.7% in 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. increased its stake in shares of Workday by 1.5% in 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. FIL Ltd increased its stake in shares of Workday by 6.5% in 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. Finally, Clearbridge Investments LLC increased its stake in shares of Workday by 5.4% in the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock worth $687,237,000 after purchasing an additional 136,211 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 73,971 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total value of $17,653,918.86. Following the transaction, the insider directly owned 102,997 shares of the company’s stock, valued at $24,581,264.02. The trade was a 41.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director directly owned 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock worth $79,203,523 over the last ninety days. 19.31% of the stock is owned by insiders.

Workday Stock Up 1.9%

Shares of WDAY opened at $241.74 on Friday. The company has a market capitalization of $64.54 billion, a P/E ratio of 133.56, a PEG ratio of 3.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The business’s 50 day simple moving average is $242.57 and its 200-day simple moving average is $246.67.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WDAY. JPMorgan Chase & Co. dropped their price objective on Workday from $310.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Oppenheimer lowered 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. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, May 21st. Finally, Piper Sandler restated an “underweight” rating and set a $235.00 price target (down from $255.00) on shares of Workday in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.88.

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.