Workday, Inc. (NASDAQ:WDAY) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1,368.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,735 shares of the software maker’s stock after purchasing an additional 74,304 shares during the quarter. TIAA Trust National Association’s holdings in Workday were worth $18,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Workday during the 1st quarter worth approximately $32,000. Financial Management Professionals Inc. increased its holdings in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Workday during the 1st quarter worth approximately $40,000. Finally, BankPlus Trust Department purchased a new stake in Workday during the 1st quarter worth approximately $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY opened at $222.22 on Friday. The company has a market cap of $59.33 billion, a P/E ratio of 122.77, a PEG ratio of 3.36 and a beta of 1.24. The stock has a fifty day moving average price of $239.40 and a 200 day moving average price of $246.13. 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 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business earned $1.74 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of the business’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the transaction, the insider owned 102,997 shares in the company, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction 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 transaction, the director owned 67,500 shares of the company’s stock, valued at $16,767,675. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock worth $79,203,523 in the last ninety days. 19.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of several analyst reports. 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 report on Friday, May 23rd. Citigroup downgraded Workday from a “neutral” rating to a “mixed” rating in a report on Friday, May 16th. Loop Capital lowered their price target on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on Workday and gave the company an “equal weight” rating in a report on Friday, May 23rd. Finally, Mizuho lowered their price target on Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.88.

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.