Auto Owners Insurance Co Sells 19,700 Shares of Workday, Inc. (NASDAQ:WDAY)

Auto Owners Insurance Co trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 41.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,900 shares of the software maker's stock after selling 19,700 shares during the quarter. Auto Owners Insurance Co's holdings in Workday were worth $6,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in Workday in the 1st quarter worth $32,000. Financial Management Professionals Inc. increased its stake in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after buying an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Workday in the 1st quarter worth $40,000. Finally, BankPlus Trust Department purchased a new stake in Workday in the 1st quarter worth $40,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WDAY shares. Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Royal Bank Of Canada restated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, Loop Capital cut their price objective on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

Workday Price Performance

NASDAQ WDAY opened at $239.11 on Wednesday. The firm's fifty day simple moving average is $245.83 and its two-hundred day simple moving average is $247.13. 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, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The firm has a market capitalization of $63.84 billion, a P/E ratio of 132.10, a P/E/G ratio of 3.53 and a beta of 1.21.

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

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the business'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 completion of the transaction, the chief financial officer directly owned 178,418 shares in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares of the company's stock, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last ninety days. Corporate insiders own 20.00% of the company's stock.

Workday Company 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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