CWA Asset Management Group LLC Grows Position in Workday, Inc. (NASDAQ:WDAY)

CWA Asset Management Group LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 103.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,013 shares of the software maker's stock after purchasing an additional 2,038 shares during the quarter. CWA Asset Management Group LLC's holdings in Workday were worth $937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. TCTC Holdings LLC acquired a new stake in shares of Workday during the fourth quarter valued at about $35,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Workday during the 1st quarter worth approximately $32,000. Rakuten Securities Inc. increased its holdings in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Financial Management Professionals Inc. raised 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 valued at $36,000 after purchasing an additional 54 shares during the period. Finally, Cromwell Holdings LLC acquired a new position in Workday during the fourth quarter worth $51,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Down 2.4%

Shares of Workday stock opened at $236.88 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $246.78 and a 200-day simple moving average of $252.16. The stock has a market cap of $63.25 billion, a price-to-earnings ratio of 130.87, a PEG ratio of 3.58 and a beta of 1.24. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations 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 previous year, the company earned $1.74 earnings per share. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WDAY. JPMorgan Chase & Co. dropped their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. UBS Group raised their target price on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price objective on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Loop Capital dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. The trade was a 40.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,906 shares of company stock valued at $59,549,619 in the last three months. 19.31% of the stock is currently owned by company insiders.

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.

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