Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 393,337 shares of the software maker's stock after acquiring an additional 11,922 shares during the period. Rhumbline Advisers owned 0.15% of Workday worth $91,856,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WDAY. Crews Bank & Trust bought a new position in shares of Workday during the 4th quarter valued at about $26,000. Roxbury Financial LLC acquired a new position in Workday in the fourth quarter worth approximately $25,000. Avion Wealth increased its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the last quarter. TCTC Holdings LLC acquired a new position in Workday during the fourth quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. grew its holdings in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Trading Up 0.2%

NASDAQ:WDAY traded up $0.62 during trading hours on Thursday, hitting $250.10. The company had a trading volume of 1,735,805 shares, compared to its average volume of 2,478,702. The company has a market cap of $66.53 billion, a P/E ratio of 41.48, a P/E/G ratio of 3.55 and a beta of 1.30. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a 50-day moving average of $242.22 and a 200 day moving average of $253.08.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on WDAY shares. BNP Paribas raised Workday to a "strong-buy" rating in a research report on Friday, February 14th. Daiwa America upgraded Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. DA Davidson boosted their target price on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Scotiabank decreased their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $340.00 price objective on shares of Workday in a report on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $293.54.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,338 shares of company stock worth $59,875,701 in the last 90 days. 19.31% of the stock is owned by 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.