NBC Securities Inc. Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

NBC Securities Inc. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 101,114.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,085 shares of the software maker's stock after buying an additional 7,078 shares during the period. NBC Securities Inc.'s holdings in Workday were worth $1,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Workday during the fourth quarter valued at approximately $658,735,000. Norges Bank bought a new stake in shares of Workday in the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC boosted its position in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

NASDAQ:WDAY traded up $2.62 on Friday, hitting $252.72. The stock had a trading volume of 1,393,024 shares, compared to its average volume of 2,473,812. The business's 50-day simple moving average is $242.59 and its two-hundred day simple moving average is $253.03. The stock has a market cap of $67.22 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

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. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted $1.74 earnings per share. The firm's revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research note on Friday, May 23rd. Redburn Atlantic began coverage on Workday in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Jefferies Financial Group dropped their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Oppenheimer cut their price objective on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Finally, KeyCorp reduced their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the transaction, the director now owns 75,000 shares of the company's stock, valued at $18,099,750. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,338 shares of company stock worth $59,875,701 in the last 90 days. 19.31% of the stock is currently owned by insiders.

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.