Allen Capital Group LLC Has $2.23 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Allen Capital Group LLC boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,566 shares of the software maker's stock after acquiring an additional 1,281 shares during the quarter. Allen Capital Group LLC's holdings in Workday were worth $2,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Workday by 3.3% during the first quarter. Victory Capital Management Inc. now owns 171,692 shares of the software maker's stock worth $40,095,000 after purchasing an additional 5,543 shares in the last quarter. BIP Wealth LLC grew its holdings in shares of Workday by 64.1% during the first quarter. BIP Wealth LLC now owns 2,487 shares of the software maker's stock valued at $581,000 after purchasing an additional 971 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in shares of Workday during the first quarter valued at approximately $201,000. Wealthfront Advisers LLC grew its holdings in shares of Workday by 5.2% during the first quarter. Wealthfront Advisers LLC now owns 12,642 shares of the software maker's stock valued at $2,952,000 after purchasing an additional 626 shares during the last quarter. Finally, West Family Investments Inc. grew its holdings in shares of Workday by 10.3% during the first quarter. West Family Investments Inc. now owns 931 shares of the software maker's stock valued at $217,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WDAY. Oppenheimer lowered their target price on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and issued a $235.00 price target (down from $255.00) on shares of Workday in a research report on Thursday, July 10th. Finally, Loop Capital reduced their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $296.88.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock worth $79,203,523 over the last ninety days. 19.31% of the stock is currently owned by insiders.

Workday Price Performance

WDAY traded up $1.72 during midday trading on Friday, hitting $232.61. The company had a trading volume of 1,153,496 shares, compared to its average volume of 2,476,686. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $62.11 billion, a PE ratio of 128.43, a P/E/G ratio of 3.43 and a beta of 1.21. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The firm's 50-day simple moving average is $246.35 and its 200-day simple moving average is $247.41.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the company posted $1.74 EPS. The company's quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Profile

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.