26,000 Shares in Workday, Inc. $WDAY Purchased by Ally Financial Inc.

Ally Financial Inc. acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 26,000 shares of the software maker's stock, valued at approximately $3,183,000.

A number of other institutional investors also recently made changes to their positions in WDAY. Madison Asset Management LLC acquired a new stake in shares of Workday in the 2nd quarter valued at about $11,833,000. Plato Investment Management Ltd acquired a new stake in Workday during the second quarter valued at approximately $1,115,000. S&CO Inc. bought a new position in Workday during the 2nd quarter worth approximately $2,284,000. Annex Advisory Services LLC bought a new position in Workday during the 2nd quarter worth approximately $591,000. Finally, Tema ETFs LLC grew its position in shares of Workday by 34.9% in the 2nd quarter. Tema ETFs LLC now owns 4,515 shares of the software maker's stock worth $553,000 after acquiring an additional 1,167 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Potential Silver Lake buyout: Workday is reportedly in discussions with Silver Lake regarding a possible acquisition. Although no deal has been confirmed, the prospect of a major software buyout has increased takeover speculation and provided a significant support for the stock. Workday: In Play Ahead Of Q2 Earnings And Amid Potential Buyout
• Positive Sentiment: More bullish analyst views: Barclays initiated or reiterated a Buy rating, while Bank of America raised its Workday price target as part of a broader software-sector upgrade. Analysts cited Workday’s potential to monetize artificial intelligence and benefit from continued demand for human-capital-management software. Workday Receives a Buy from Barclays ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: AI investment supports the long-term story: Workday’s AI Research team and new PhD fellowship are focused on improving enterprise AI’s memory, speed, accuracy, privacy and governance. Investors may view these efforts as strengthening the company’s competitive position and supporting future growth. Can Workday AI Research Unit Drive Sustainable Enterprise Growth?
• Neutral Sentiment: Upcoming earnings are a key catalyst: Workday is expected to report quarterly results next week, with Wall Street anticipating earnings growth. The report could determine whether the recent rally is supported by operating performance in addition to takeover speculation. Workday Reports Next Week
• Negative Sentiment: Valuation and growth concerns remain: Workday’s roughly 63% three-month rally has pushed valuation higher, while slower growth, market saturation and competition could limit further gains. Investors are also watching for an earnings beat, since some analysts argue the company may lack the indicators typically associated with one. Workday Stock Surges 63% in 3 Months

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating on shares of Workday in a report on Friday, August 14th. Piper Sandler restated a "neutral" rating and set a $145.00 price objective on shares of Workday in a research note on Friday, August 14th. DA Davidson set a $135.00 price objective on shares of Workday in a report on Tuesday, May 26th. Oppenheimer reaffirmed an "outperform" rating on shares of Workday in a report on Thursday, June 11th. Finally, Lake Street Capital set a $205.00 target price on shares of Workday in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $187.29.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 918 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $142.19, for a total transaction of $130,530.42. Following the completion of the transaction, the chief accounting officer directly owned 73,718 shares of the company's stock, valued at approximately $10,481,962.42. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares of the company's stock, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by insiders.

Workday Price Performance

Workday stock opened at $200.01 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company has a 50-day simple moving average of $150.30 and a 200-day simple moving average of $139.48. The firm has a market capitalization of $49.40 billion, a P/E ratio of 62.50, a P/E/G ratio of 2.13 and a beta of 1.08.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $2.23 earnings per share. Workday's revenue was up 13.5% compared to the same quarter last year. As a group, equities analysts expect that Workday, Inc. will post 5.38 earnings per share for the current year.

About Workday

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.

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