City National Bank of Florida MSD Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

City National Bank of Florida MSD acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,300 shares of the software maker's stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also modified their holdings of WDAY. Merit Financial Group LLC bought a new stake in shares of Workday during the fourth quarter worth $578,000. UMB Bank n.a. lifted its stake in Workday by 10.9% in the fourth quarter. UMB Bank n.a. now owns 1,060 shares of the software maker's stock valued at $274,000 after buying an additional 104 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Workday by 65.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker's stock worth $70,000 after acquiring an additional 108 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Workday by 952.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,642 shares of the software maker's stock worth $424,000 after buying an additional 1,486 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of Workday during the fourth quarter worth about $201,000. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on WDAY shares. Loop Capital reduced their target price on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research note on Friday. Scotiabank decreased their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. UBS Group boosted their price objective on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. BNP Paribas upgraded Workday to a "strong-buy" rating in a research report on Friday, February 14th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $255.00 target price (up from $230.00) on shares of Workday in a report on Friday. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Trading Up 1.6%

NASDAQ:WDAY traded up $3.72 on Tuesday, reaching $241.73. The company's stock had a trading volume of 2,070,656 shares, compared to its average volume of 2,541,574. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $242.28 and a 200 day moving average price of $254.06. The firm has a market cap of $64.30 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results 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 business 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 6.13% and a net margin of 19.86%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. The trade was a 44.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last quarter. 19.31% of the stock is currently owned by company insiders.

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.