Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 21.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,628 shares of the software maker’s stock after buying an additional 1,169 shares during the quarter. Park Avenue Securities LLC’s holdings in Workday were worth $1,808,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Wedmont Private Capital increased its stake in Workday by 8.3% in the 1st quarter. Wedmont Private Capital now owns 1,095 shares of the software maker’s stock valued at $297,000 after purchasing an additional 84 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in Workday by 33.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,941 shares of the software maker’s stock valued at $4,621,000 after purchasing an additional 4,292 shares in the last quarter. Fulton Bank N.A. increased its stake in Workday by 4.5% in the 1st quarter. Fulton Bank N.A. now owns 7,653 shares of the software maker’s stock valued at $2,087,000 after purchasing an additional 333 shares in the last quarter. Mather Group LLC. purchased a new position in Workday in the 1st quarter valued at approximately $74,000. Finally, First Hawaiian Bank increased its stake in Workday by 5.2% in the 1st quarter. First Hawaiian Bank now owns 11,261 shares of the software maker’s stock valued at $3,071,000 after purchasing an additional 553 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 2.1 %

Shares of WDAY opened at $219.09 on Friday. The stock’s 50-day moving average is $236.14 and its two-hundred day moving average is $265.17. The stock has a market cap of $58.06 billion, a PE ratio of 39.48, a P/E/G ratio of 5.42 and a beta of 1.33. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Equities analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the completion of the transaction, the insider now owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. Insiders have sold a total of 392,713 shares of company stock worth $97,038,313 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on WDAY. Robert W. Baird dropped their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. DA Davidson dropped their price target on Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. UBS Group dropped their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. BMO Capital Markets dropped their price target on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Barclays dropped their price target on Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $282.11.

About Workday

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.