Crossmark Global Holdings Inc. lifted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 65.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,352 shares of the software maker's stock after acquiring an additional 2,919 shares during the period. Crossmark Global Holdings Inc.'s holdings in Workday were worth $1,717,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in WDAY. Vanguard Group Inc. grew its stake in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the 4th quarter valued at about $658,735,000. Norges Bank purchased a new position in shares of Workday during the 4th quarter valued at about $645,710,000. Parnassus Investments LLC grew its position in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. Institutional investors own 89.81% of the company's stock.
Insider Activity
In other news, Director George J. Still, Jr. sold 7,500 shares of the firm'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 transaction, the director owned 67,500 shares of the company's stock, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 178,418 shares in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 328,554 shares of company stock worth $79,097,601. Company insiders own 19.31% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on WDAY. KeyCorp lowered their target price on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Scotiabank reduced their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research report on Friday, May 23rd. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $340.00 price target on shares of Workday in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.
Get Our Latest Report on Workday
Workday Stock Down 2.6%
WDAY traded down $5.93 on Friday, reaching $223.37. 2,494,795 shares of the company traded hands, compared to its average volume of 2,485,606. The stock's 50 day moving average price is $248.29 and its 200-day moving average price is $248.37. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a market cap of $59.64 billion, a price-to-earnings ratio of 123.41, a PEG ratio of 3.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.
Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (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%. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 EPS. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.
Workday Profile
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Free Report)
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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