Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 31.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,241 shares of the software maker's stock after acquiring an additional 9,402 shares during the period. Gateway Investment Advisers LLC's holdings in Workday were worth $9,164,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Workday in the fourth quarter worth approximately $8,984,000. Mather Group LLC. grew its position in Workday by 11.5% in the 4th quarter. Mather Group LLC. now owns 590 shares of the software maker's stock worth $152,000 after purchasing an additional 61 shares during the period. Retirement Systems of Alabama bought a new stake in shares of Workday in the fourth quarter worth $11,900,000. Finally, Stratos Wealth Partners LTD. increased its position in Workday by 60.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker's stock valued at $363,000 after acquiring an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets increased their target price on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research note on Friday, May 23rd. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $255.00 target price (up from $230.00) on shares of Workday in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Trading Down 0.6%

Workday stock traded down $1.40 during midday trading on Wednesday, hitting $251.33. 1,333,430 shares of the stock were exchanged, compared to its average volume of 2,462,970. The stock has a market capitalization of $67.11 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 3.55 and a beta of 1.24. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock's 50-day simple moving average is $243.42 and its 200 day simple moving average is $252.78. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted 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. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. This trade represents a 22.37% 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, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 259,838 shares of company stock worth $61,738,776 in the last ninety days. 19.31% of the stock is owned by corporate 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.