7,456 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. acquired 7,456 shares of Workday, Inc. valued at approximately $1,741,000 during the 1st quarter, as reported in a 13F filing with the SEC.
• Insider trading was significant as Mark S. Garfield sold 451 shares worth about $105,921.86, and major shareholder David A. Duffield sold a large block of 72,551 shares totaling over $17 million.
• The latest earnings report showed that Workday surpassed estimates with an EPS of $2.23 and revenue of $2.24 billion, indicating a year-over-year revenue growth of 12.6%.

Fox Run Management L.L.C. bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,456 shares of the software maker's stock, valued at approximately $1,741,000.

Several other institutional investors also recently modified their holdings of the business. Kovitz Investment Group Partners LLC boosted its position in Workday by 406.5% in the first quarter. Kovitz Investment Group Partners LLC now owns 7,587 shares of the software maker's stock worth $1,772,000 after purchasing an additional 6,089 shares during the last quarter. OneAscent Investment Solutions LLC purchased a new position in shares of Workday in the 1st quarter worth about $463,000. Vestmark Advisory Solutions Inc. grew its position in Workday by 78.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 10,322 shares of the software maker's stock valued at $2,410,000 after buying an additional 4,536 shares during the period. Neuberger Berman Group LLC increased its holdings in Workday by 3.6% during the first quarter. Neuberger Berman Group LLC now owns 718,452 shares of the software maker's stock worth $167,780,000 after buying an additional 24,868 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in Workday by 43.9% during the first quarter. E Fund Management Co. Ltd. now owns 9,899 shares of the software maker's stock worth $2,312,000 after buying an additional 3,019 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company reduced their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Loop Capital decreased their target price on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Finally, Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $294.31.

Insider Transactions at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 329,005 shares of company stock worth $79,203,523. Company insiders own 19.31% of the company's stock.

Workday Price Performance

WDAY stock traded up $4.17 during midday trading on Friday, reaching $226.09. The company had a trading volume of 2,888,429 shares, compared to its average volume of 2,927,709. The firm has a 50-day moving average price of $234.67 and a 200-day moving average price of $243.73. The company has a market capitalization of $60.37 billion, a P/E ratio of 124.91, a P/E/G ratio of 3.42 and a beta of 1.24. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last posted 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 net margin of 5.60% and a return on equity of 8.00%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS. On average, research analysts anticipate 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.