Comerica Bank Buys 21,621 Shares of Workday, Inc. (NASDAQ:WDAY)

Comerica Bank boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,864 shares of the software maker's stock after acquiring an additional 21,621 shares during the period. Comerica Bank's holdings in Workday were worth $15,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDAY. Virtu Financial LLC bought a new position in Workday during the third quarter valued at $2,289,000. Anchor Investment Management LLC lifted its position in shares of Workday by 6.1% during the 3rd quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker's stock valued at $1,552,000 after buying an additional 368 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Workday during the 3rd quarter worth $4,893,000. Tidal Investments LLC increased its holdings in Workday by 43.8% in the 3rd quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock worth $3,311,000 after acquiring an additional 4,128 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in Workday by 5.7% in the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock valued at $4,788,000 after acquiring an additional 1,051 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

NASDAQ WDAY opened at $246.61 on Friday. The firm has a market cap of $65.60 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 3.55 and a beta of 1.32. The company has a 50-day simple moving average of $239.41 and a two-hundred day simple moving average of $251.81. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares of the company's stock, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last quarter. Insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Royal Bank of Canada boosted their target price on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Mizuho dropped their target price on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Scotiabank reduced their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, StockNews.com cut Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.86.

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.

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