Argentarii LLC Purchases New Shares in Workday, Inc. (NASDAQ:WDAY)

Argentarii LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,983 shares of the software maker's stock, valued at approximately $463,000.

Several other institutional investors also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. boosted its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Workday during the fourth quarter worth about $658,735,000. Norges Bank purchased a new stake in shares of Workday in the fourth quarter worth about $645,710,000. Parnassus Investments LLC lifted its holdings in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Price Performance

Shares of WDAY stock traded up $4.29 during trading hours on Friday, hitting $242.03. 1,301,745 shares of the company's stock were exchanged, compared to its average volume of 2,466,059. The company has a market capitalization of $64.62 billion, a PE ratio of 133.72, a PEG ratio of 3.65 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 business's 50 day simple moving average is $249.27 and its 200-day simple moving average is $249.54. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate 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 last year, the firm posted $1.74 earnings per share. The business's revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer owned 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 331,775 shares of company stock worth $77,836,828 over the last ninety days. Company insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDAY. Wall Street Zen downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Saturday. Guggenheim reissued a "neutral" rating on shares of Workday in a report on Friday, May 23rd. DA Davidson increased their price target on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Jefferies Financial Group lowered their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $297.68.

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.