LGT Group Foundation Purchases 82,760 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• LGT Group Foundation significantly increased its stake in Workday, Inc. by 1,178.1% in the first quarter, owning 89,785 shares valued at approximately $20.97 million.
• Various hedge funds, including T. Rowe Price and Nuveen LLC, have also established or increased their positions in Workday, contributing to a total of 89.81% of the stock being held by institutional investors.
• Workday reported a quarterly revenue of $2.24 billion, exceeding analysts' expectations, and achieved an EPS of $2.23, representing a 12.6% year-over-year increase.

LGT Group Foundation increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,178.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,785 shares of the software maker's stock after buying an additional 82,760 shares during the period. LGT Group Foundation's holdings in Workday were worth $20,967,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WDAY. Cornerstone Planning Group LLC boosted 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 worth $28,000 after buying an additional 54 shares during the period. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday during the 1st quarter worth $32,000. Financial Management Professionals Inc. boosted 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 worth $36,000 after buying an additional 54 shares during the period. Pinnacle Bancorp Inc. bought a new stake in shares of Workday during the 1st quarter worth $40,000. Finally, BankPlus Trust Department bought a new stake in shares of Workday during the 1st quarter worth $40,000. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the sale, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 in the last 90 days. 19.31% of the stock is currently owned by corporate insiders.

Workday Stock Performance

WDAY stock traded down $1.15 during midday trading on Thursday, reaching $221.92. 3,254,754 shares of the company were exchanged, compared to its average volume of 2,875,696. 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 business has a 50-day moving average price of $235.20 and a two-hundred day moving average price of $244.18. Workday, Inc. has a one year low of $205.33 and a one year high of $294.00. The firm has a market capitalization of $59.25 billion, a price-to-earnings ratio of 122.61, a price-to-earnings-growth ratio of 3.37 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the business posted $1.74 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDAY. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on shares of Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. Cantor Fitzgerald set a $265.00 price target on shares of Workday in a report on Thursday. Wells Fargo & Company reduced their price target on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average price target of $294.31.

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.