Congress Asset Management Co. Has $9.67 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Congress Asset Management Co. raised its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,399 shares of the software maker's stock after purchasing an additional 1,182 shares during the quarter. Congress Asset Management Co.'s holdings in Workday were worth $9,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Roxbury Financial LLC bought a new stake in shares of Workday during the fourth quarter worth $25,000. Avion Wealth grew its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC acquired a new position in Workday in the fourth quarter valued at about $35,000. Financial Management Professionals Inc. grew its stake in 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 acquiring an additional 54 shares during the period. Finally, Rakuten Securities Inc. grew its stake in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Loop Capital reduced 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. Scotiabank cut their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Canaccord Genuity Group raised their price objective on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday has a consensus rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Performance

Shares of WDAY stock opened at $252.72 on Friday. The business's 50-day moving average price is $242.59 and its 200-day moving average price is $252.99. 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 $67.48 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 3.55 and a beta of 1.24. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the company earned $1.74 earnings per share. The firm's revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares in the company, valued at approximately $18,099,750. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,338 shares of company stock worth $59,875,701 over the last ninety days. 19.31% of the stock is owned by 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.

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