Workday, Inc. (NASDAQ:WDAY) Shares Bought by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Workday, Inc. by 43.9% by acquiring an additional 3,019 shares, bringing its total holdings to 9,899 shares valued at approximately $2.31 million.
• Workday reported a net margin of 5.60% and revenue growth of 12.6% year-over-year, achieving earnings of $2.23 per share for the latest quarter, exceeding analysts' expectations.
• Institutional investors now own 89.81% of Workday's stock, reflecting significant interest from large firms in the company's operations and future potential.

E Fund Management Co. Ltd. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 43.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,899 shares of the software maker's stock after purchasing an additional 3,019 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Workday were worth $2,312,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its stake in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares in the last quarter. Dagco Inc. bought a new stake in shares of Workday in the 1st quarter worth about $31,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday in the 1st quarter worth about $32,000. Financial Management Professionals Inc. boosted its stake in shares of Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the period. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Workday during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the sale, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the firm'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 sale, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock worth $79,203,523. Insiders own 19.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WDAY shares. Cantor Fitzgerald set a $265.00 price target on shares of Workday in a research note on Thursday. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Friday, May 23rd. KeyCorp cut their target price on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. DA Davidson upped their target price on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Piper Sandler reaffirmed an "underweight" rating and set a $235.00 target price (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.31.

Workday Stock Down 0.5%

Workday stock traded down $1.15 during midday trading on Thursday, hitting $221.92. 3,254,754 shares of the company's stock were exchanged, compared to its average volume of 2,875,696. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The firm has a 50-day moving average of $235.20 and a two-hundred day moving average of $244.18. The company has a market cap of $59.25 billion, a PE ratio of 122.61, a P/E/G ratio of 3.37 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last issued its 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. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the prior year, the business earned $1.74 EPS. The firm's quarterly revenue was up 12.6% on a year-over-year basis. As a group, analysts expect that Workday, Inc. will post 2.63 earnings per share 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.