Raiffeisen Bank International AG Sells 8,321 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Raiffeisen Bank International AG decreased its holdings in Workday, Inc. by 5.1% during the first quarter, retaining 155,189 shares valued at approximately $37 million.
• After reporting quarterly earnings, Workday topped expectations with an EPS of $2.23 and revenue of $2.24 billion, showing a 12.6% year-over-year increase.
• Recent analyst revisions have resulted in lowering of price targets for Workday, with Loop Capital setting a new hold rating at $250, while Westpark Capital has a buy rating with a target of $328.

Raiffeisen Bank International AG reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 155,189 shares of the software maker's stock after selling 8,321 shares during the quarter. Raiffeisen Bank International AG owned about 0.06% of Workday worth $37,011,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its holdings in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Workday during the 1st quarter valued at $32,000. Financial Management Professionals Inc. lifted its position 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 valued at $36,000 after buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new position in shares of Workday during the 1st quarter valued at $40,000. Finally, BankPlus Trust Department purchased a new stake in Workday during the 1st quarter worth about $40,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 3.1%

Shares of WDAY opened at $222.22 on Friday. The firm has a market cap of $59.33 billion, a PE ratio of 122.77, a price-to-earnings-growth ratio of 3.36 and a beta of 1.24. The company's fifty day moving average is $239.40 and its two-hundred day moving average is $246.13. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

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 (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 EPS. Analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Loop Capital decreased their price objective on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Mizuho decreased their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Westpark Capital raised their price objective on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company decreased their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $296.88.

Insider Buying and Selling

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company'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 value of $1,496,437.50. Following the transaction, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,005 shares of company stock worth $79,203,523. Company insiders own 19.31% of the company's stock.

Workday 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.

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