Congress Asset Management Co. Grows Holdings in Workday, Inc. (NASDAQ:WDAY)

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

Several other large investors also recently modified their holdings of WDAY. Roxbury Financial LLC purchased a new position in Workday in the fourth quarter worth about $25,000. Avion Wealth lifted its stake in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC bought a new position in shares of Workday in the 4th quarter worth approximately $35,000. Financial Management Professionals Inc. boosted its holdings in shares of 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 buying an additional 54 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after buying an additional 66 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several analyst reports. KeyCorp dropped their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Scotiabank lowered their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group reduced their price target on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group boosted their price objective on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $293.54.

Insider Activity

In related news, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. This trade represents a 22.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,838 shares of company stock valued at $61,738,776 in the last ninety days. Insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $1.40 on Wednesday, reaching $251.33. The company's stock had a trading volume of 1,333,430 shares, compared to its average volume of 2,462,970. The company has a 50-day simple moving average of $243.42 and a 200 day simple moving average of $252.78. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $67.11 billion, a P/E ratio of 41.68, a PEG ratio of 3.55 and a beta of 1.24.

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

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.