Fifth Third Bancorp Acquires 2,266 Shares of Workday, Inc. (NASDAQ:WDAY)

Fifth Third Bancorp increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 24.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,517 shares of the software maker's stock after acquiring an additional 2,266 shares during the quarter. Fifth Third Bancorp's holdings in Workday were worth $2,690,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new position in shares of Workday in the fourth quarter valued at approximately $25,000. TCTC Holdings LLC bought a new position in Workday during the 4th quarter worth about $35,000. Financial Management Professionals Inc. raised its stake in shares of Workday by 54.0% in the 1st 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. Rakuten Securities Inc. lifted its holdings in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in shares of Workday by 169.6% during the first quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock worth $50,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

Shares of NASDAQ WDAY traded up $1.49 during midday trading on Monday, reaching $246.03. 294,778 shares of the company were exchanged, compared to its average volume of 2,456,916. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market cap of $65.69 billion, a P/E ratio of 40.81, a PEG ratio of 3.55 and a beta of 1.24. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The stock's 50-day moving average price is $245.50 and its 200-day moving average price is $252.46.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The company 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 6.13% and a net margin of 19.86%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.74 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 70,144 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the sale, the insider now owns 102,997 shares in the company, valued at $25,776,029.22. This represents a 40.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,666 shares of company stock worth $38,465,025 over the last quarter. Company insiders own 19.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WDAY. Scotiabank reduced their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. UBS Group increased their target price on shares of Workday from $255.00 to $285.00 and gave the stock 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 company an "equal weight" rating in a research note on Friday, May 23rd. Wells Fargo & Company reduced their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group raised their price objective on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $293.54.

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.