Meeder Advisory Services Inc. Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Meeder Advisory Services Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,318 shares of the software maker’s stock after acquiring an additional 787 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Workday were worth $1,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Cornerstone Planning Group LLC boosted its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday during the first quarter valued at about $32,000. Financial Management Professionals Inc. lifted its position 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 buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Workday in the 1st quarter valued at about $40,000. Finally, BankPlus Trust Department purchased a new position in shares of Workday in the 1st quarter worth approximately $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Mark S. Garfield sold 451 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares of the company’s stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the transaction, the insider owned 102,997 shares in the company, valued at $24,679,111.17. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 329,005 shares of company stock worth $79,203,523. 20.00% of the stock is currently owned by corporate insiders.

Workday Trading Up 0.7%

Workday stock opened at $239.63 on Wednesday. The firm has a market cap of $63.98 billion, a PE ratio of 132.39, a P/E/G ratio of 3.60 and a beta of 1.21. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock’s 50 day simple moving average is $241.18 and its two-hundred day simple moving average is $246.49. 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 (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the firm posted $1.74 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on WDAY shares. Piper Sandler reissued an “underweight” rating and set a $235.00 target price (down previously from $255.00) on shares of Workday in a research report on Thursday, July 10th. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. DA Davidson raised their price objective on Workday from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Oppenheimer reduced their target price on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 23rd. 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target 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.