Apollon Wealth Management LLC Acquires 1,269 Shares of Workday, Inc. (NASDAQ:WDAY)

Apollon Wealth Management LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 57.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,484 shares of the software maker's stock after acquiring an additional 1,269 shares during the quarter. Apollon Wealth Management LLC's holdings in Workday were worth $814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after buying an additional 54 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in Workday in the first quarter valued at $32,000. Financial Management Professionals Inc. raised its holdings in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in Workday during the first quarter worth about $40,000. Finally, BankPlus Trust Department acquired a new position in Workday during the first quarter worth about $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Up 1.8%

Shares of WDAY opened at $230.89 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The business's 50 day simple moving average is $246.35 and its 200-day simple moving average is $247.41. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 127.56, a price-to-earnings-growth ratio of 3.43 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business posted $1.74 earnings per share. As a group, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at $352,440.96. This represents a 80.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total value of $17,383,945.11. Following the completion of the transaction, the insider directly owned 102,997 shares of the company's stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Mizuho cut their target price on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler restated an "underweight" rating and set a $235.00 price target (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, Wells Fargo & Company decreased their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $296.88.

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.

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