Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Balentine LLC

Balentine LLC lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 177.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,683 shares of the software maker's stock after purchasing an additional 2,994 shares during the period. Balentine LLC's holdings in Workday were worth $1,094,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho cut their target price on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus cut their target price on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Jefferies Financial Group cut their target price on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price target on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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 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 sale, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director directly owned 67,500 shares of the company's stock, valued at $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 over the last quarter. 19.31% of the stock is owned by corporate insiders.

Workday Trading Up 0.9%

NASDAQ WDAY traded up $2.17 on Friday, reaching $233.06. The stock had a trading volume of 2,597,839 shares, compared to its average volume of 2,484,041. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 128.76, a P/E/G ratio of 3.52 and a beta of 1.21. The company has a quick ratio of 2.07, a current 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 stock has a fifty day moving average price of $245.83 and a two-hundred day moving average price of $247.16.

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. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.