IFM Investors Pty Ltd Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

IFM Investors Pty Ltd grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 10.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 42,361 shares of the software maker's stock after purchasing an additional 4,039 shares during the period. IFM Investors Pty Ltd's holdings in Workday were worth $10,353,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WDAY. TCTC Holdings LLC purchased a new position in Workday in the 4th quarter worth approximately $35,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday during the 1st quarter valued at $32,000. Rakuten Securities Inc. grew its position in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. Financial Management Professionals Inc. grew its position 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 acquiring an additional 54 shares during the period. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Workday during the 1st quarter valued at $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WDAY shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, May 21st. DA Davidson upped their target price on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Scotiabank dropped their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Stifel Nicolaus dropped their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Finally, KeyCorp dropped their target price on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $297.68.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the sale, the chief accounting officer owned 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director owned 67,500 shares in the company, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 331,775 shares of company stock worth $77,836,828. 19.31% of the stock is currently owned by company insiders.

Workday Price Performance

NASDAQ WDAY opened at $242.03 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The firm's 50 day moving average price is $249.27 and its 200-day moving average price is $249.67. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a market cap of $64.62 billion, a PE ratio of 133.72, a P/E/G ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $1.74 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

About Workday

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.

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