Principal Financial Group Inc. Acquires 5,043 Shares of Workday, Inc. (NASDAQ:WDAY)

Principal Financial Group Inc. increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,267 shares of the software maker's stock after purchasing an additional 5,043 shares during the period. Principal Financial Group Inc. owned 0.15% of Workday worth $95,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of WDAY. Brighton Jones LLC increased its holdings in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Workday by 24.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock valued at $793,000 after acquiring an additional 595 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Workday by 15.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,060 shares of the software maker's stock valued at $790,000 after acquiring an additional 413 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Workday in the 4th quarter valued at $153,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Workday by 9.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,149 shares of the software maker's stock valued at $2,361,000 after acquiring an additional 760 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In related news, 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 $16,767,675. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 72,917 shares of Workday stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $238.96, for a total transaction of $17,424,246.32. Following the sale, the insider owned 102,997 shares of the company's stock, valued at $24,612,163.12. The trade was a 41.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 331,775 shares of company stock worth $77,836,828. Corporate insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Westpark Capital lifted their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Scotiabank reduced their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Oppenheimer reduced their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Workday has an average rating of "Moderate Buy" and a consensus price target of $297.68.

Workday Trading Up 1.8%

Shares of WDAY stock traded up $4.29 during trading hours on Friday, reaching $242.03. 1,301,745 shares of the stock were exchanged, compared to its average volume of 2,466,059. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The company's 50-day moving average price is $249.27 and its 200-day moving average price is $249.54. The firm has a market capitalization of $64.62 billion, a price-to-earnings ratio of 133.72, a price-to-earnings-growth ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $2.22 billion. During the same quarter last year, the business posted $1.74 EPS. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current 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.