OneAscent Investment Solutions LLC Purchases New Position in Workday, Inc. (NASDAQ:WDAY)

Key Points

• OneAscent Investment Solutions LLC acquired 1,984 shares of Workday, Inc. for approximately $463,000 in its recent quarter filing.
• Workday reported earnings of $2.23 per share, surpassing estimates, with revenues of $2.24 billion indicating a 12.6% year-over-year growth.
• Institutional investors hold approximately 89.81% of Workday's stock, suggesting strong investor confidence in the company.

OneAscent Investment Solutions LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,984 shares of the software maker's stock, valued at approximately $463,000.

Other large investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday during the 4th quarter valued at $658,735,000. Nuveen LLC acquired a new position in shares of Workday in the 1st quarter valued at about $456,341,000. The Manufacturers Life Insurance Company lifted its stake in shares of Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares during the period. Northern Trust Corp lifted its stake in shares of Workday by 51.2% in the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock valued at $584,175,000 after purchasing an additional 767,034 shares during the period. Finally, Contour Asset Management LLC acquired a new position in shares of Workday in the 4th quarter valued at about $183,516,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cantor Fitzgerald set a $265.00 target price on Workday in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price target on shares of Workday in a 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. KeyCorp lowered their target price on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, UBS Group set a $250.00 target price on shares of Workday and gave the company a "neutral" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $294.31.

Workday Trading Up 1.9%

NASDAQ WDAY traded up $4.17 during trading on Friday, hitting $226.09. 2,888,429 shares of the company's stock traded hands, compared to its average volume of 2,927,709. The firm has a market cap of $60.37 billion, a P/E ratio of 124.91, a PEG ratio of 3.42 and a beta of 1.24. The stock has a fifty day moving average of $234.67 and a two-hundred day moving average of $243.73. 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, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00.

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

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director directly owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares of the company's stock, valued at $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last ninety days. 19.31% of the stock is owned by corporate insiders.

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.