Berger Financial Group Inc Takes $4.97 Million Position in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Berger Financial Group Inc invested approximately $4.97 million in Workday, Inc. (NASDAQ:WDAY) by purchasing 21,296 shares during the first quarter.
• Workday reported $2.23 earnings per share for the latest quarter, exceeding analysts' expectations of $2.01, alongside a revenue of $2.24 billion.
• Institutional investors and hedge funds own 89.81% of Workday's stock, reflecting significant investment interest and confidence in the company.

Berger Financial Group Inc acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,296 shares of the software maker's stock, valued at approximately $4,973,000.

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

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director directly owned 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was 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 owned 178,418 shares of the company's stock, valued at $42,747,168.62. This represents a 3.25% 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 in the last three months. 20.00% of the stock is currently owned by insiders.

Workday Stock Up 0.5%

Shares of WDAY stock traded up $1.09 on Friday, hitting $222.07. The stock had a trading volume of 2,386,346 shares, compared to its average volume of 2,506,795. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $237.71 and a 200 day moving average price of $245.15. The company has a market cap of $59.29 billion, a PE ratio of 122.69, a P/E/G ratio of 3.36 and a beta of 1.24. Workday, Inc. has a one year low of $205.33 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the topic of several research reports. KeyCorp reduced their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Piper Sandler restated an "underweight" rating and issued a $235.00 price target (down previously from $255.00) on shares of Workday in a research report on Thursday, July 10th. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Wells Fargo & Company dropped their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Oppenheimer dropped their price objective on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

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.