Founders Financial Alliance LLC Purchases New Stake in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Founders Financial Alliance LLC acquired a new stake in Workday, purchasing 1,307 shares valued at approximately $305,000 during the 1st quarter.
• CEO Carl M. Eschenbach sold 6,250 shares of Workday at an average price of $239.43, resulting in an 80.94% decrease in his ownership of the stock.
• Workday's quarterly earnings reported an EPS of $2.23, exceeding analyst expectations of $2.01, with revenue reaching $2.24 billion during the same period.

Founders Financial Alliance LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,307 shares of the software maker's stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after buying an additional 54 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday during the 1st quarter valued at about $32,000. Financial Management Professionals Inc. raised its holdings 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 valued at $36,000 after buying an additional 54 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in shares of Workday during the 1st quarter valued at about $40,000. Finally, BankPlus Trust Department purchased a new stake in shares of Workday during the 1st quarter valued at about $40,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WDAY shares. Wells Fargo & Company dropped their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer dropped their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Westpark Capital lifted their price objective on Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, KeyCorp decreased their target price on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have given 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 $296.88.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was 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 $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 over the last ninety days. Company insiders own 20.00% of the company's stock.

Workday Price Performance

Shares of Workday stock traded up $1.09 during trading on Friday, hitting $222.07. The stock had a trading volume of 2,386,346 shares, compared to its average volume of 2,506,795. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $59.29 billion, a P/E ratio of 122.69, a PEG ratio of 3.36 and a beta of 1.24. The business has a fifty day moving average of $237.71 and a two-hundred day moving average of $245.15. 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 announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company's revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday Company 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.