Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Workday, Inc. by 9.7%, acquiring 85,499 shares to hold a total of 965,452 shares, valued at $225,462,000.
• Various other institutional investors have also increased their positions in Workday, with 89.81% of its stock now owned by institutional investors.
• Analysts have set a mixed range of target prices for Workday, with the average target at $296.88 and a majority rating it as a "Moderate Buy."

Deutsche Bank AG boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 965,452 shares of the software maker's stock after purchasing an additional 85,499 shares during the quarter. Deutsche Bank AG owned approximately 0.36% of Workday worth $225,462,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WDAY. Brighton Jones LLC grew its position in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after buying an additional 2,792 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Workday by 24.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after purchasing an additional 595 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Workday by 27.6% during the 4th quarter. Advisory Services Network LLC now owns 703 shares of the software maker's stock worth $181,000 after buying an additional 152 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Workday in the 4th quarter valued at $362,000. Finally, Bessemer Group Inc. grew its position in shares of Workday by 20.7% in the 4th quarter. Bessemer Group Inc. now owns 3,279 shares of the software maker's stock valued at $847,000 after buying an additional 563 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

WDAY stock traded up $1.09 during midday trading on Friday, hitting $222.07. 2,386,346 shares of the stock were exchanged, compared to its average volume of 2,506,795. The stock's 50-day moving average price is $237.71 and its 200-day moving average price is $245.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $59.29 billion, a price-to-earnings ratio of 122.69, a PEG ratio of 3.36 and a beta of 1.24. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results 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 return on equity of 8.00% and a net margin of 5.60%. The business's revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 EPS. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on WDAY. Morgan Stanley set a $255.00 price target on shares of Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Stifel Nicolaus reduced their target price on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Guggenheim restated a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. 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 note on Friday, May 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 7,500 shares of the business'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 completion of the transaction, the director owned 67,500 shares of the company's stock, valued at approximately $16,767,675. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares in the company, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 329,005 shares of company stock valued at $79,203,523. 20.00% of the stock is 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.