Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Workday, Inc. $WDAY

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 46.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,102 shares of the software maker’s stock after buying an additional 37,677 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $25,366,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the third quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Workday during the third quarter worth about $30,000. eCIO Inc. acquired a new stake in shares of Workday during the fourth quarter worth about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Workday during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDAY. Loop Capital set a $210.00 price target on shares of Workday in a research report on Thursday, March 12th. DA Davidson reduced their price target on shares of Workday from $250.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Jefferies Financial Group cut shares of Workday from a “buy” rating to a “hold” rating and reduced their price target for the stock from $325.00 to $150.00 in a research report on Monday, February 23rd. UBS Group reduced their price target on shares of Workday from $170.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, BTIG Research reduced their price target on shares of Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Insider Transactions at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the transaction, the chief financial officer owned 217,930 shares in the company, valued at $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 989,814 shares of company stock valued at $131,576,291 over the last quarter. Insiders own 20.00% of the company’s stock.

Workday Stock Up 1.0%

Shares of NASDAQ:WDAY opened at $129.16 on Wednesday. The firm’s 50 day moving average price is $133.18 and its 200 day moving average price is $185.66. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share. As a group, equities research analysts predict that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.