Sowell Financial Services LLC Buys Shares of 1,243 Workday, Inc. (NASDAQ:WDAY)

Sowell Financial Services LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,243 shares of the software maker's stock, valued at approximately $290,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC raised its stake in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after buying an additional 52,104 shares during the period. Finally, FIL Ltd increased its stake in shares of Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after buying an additional 181,899 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total value of $17,448,117.00. Following the sale, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 181,762 shares of company stock worth $41,995,382 in the last ninety days. Corporate insiders own 20.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Piper Sandler restated a "neutral" rating and issued a $255.00 price objective (up from $230.00) on shares of Workday in a report on Friday, May 23rd. UBS Group increased their price target on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Citigroup lowered Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Stifel Nicolaus decreased their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Finally, Mizuho lowered their price target on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $293.54.

Workday Stock Down 0.7%

Shares of WDAY traded down $1.61 during trading hours on Monday, reaching $236.58. The stock had a trading volume of 1,750,606 shares, compared to its average volume of 2,457,737. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The firm has a 50-day simple moving average of $247.01 and a 200 day simple moving average of $251.83. 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 has a market capitalization of $63.17 billion, a price-to-earnings ratio of 91.96, a P/E/G ratio of 3.60 and a beta of 1.24.

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

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.