Phoenix Financial Ltd. Invests $273,000 in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Phoenix Financial Ltd. acquired a new position in Workday, Inc. by purchasing 1,166 shares valued at approximately $273,000 during the 1st quarter of 2023.
• Several other institutional investors also increased their stakes in Workday, with Stevens Capital Management LP boosting its holdings by 41.9% to a value of $1,540,000.
• Workday's stock recently opened at $241.74 and the company reported a revenue increase of 12.6% year-over-year, totaling $2.24 billion for the quarter.

Phoenix Financial Ltd. purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,166 shares of the software maker's stock, valued at approximately $273,000.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its position in 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 acquiring an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Workday during the 1st quarter worth approximately $32,000. Financial Management Professionals Inc. grew its position in 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 acquiring an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in Workday during the 1st quarter worth approximately $40,000. Finally, BankPlus Trust Department bought a new stake in Workday during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Performance

WDAY stock traded down $3.70 during mid-day trading on Monday, hitting $238.04. 1,539,706 shares of the company were exchanged, compared to its average volume of 2,263,434. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The business has a 50 day simple moving average of $242.57 and a 200-day simple moving average of $246.62. The stock has a market capitalization of $63.56 billion, a PE ratio of 131.51, a price-to-earnings-growth ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating 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 company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm's quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% 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 72,551 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider owned 102,997 shares of the company's stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 in the last quarter. Corporate insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price target on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. KeyCorp decreased their price target on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Finally, Morgan Stanley set a $255.00 price objective on Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

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.