Texas Capital Bank Wealth Management Services Inc Invests $700,000 in Workday, Inc. $WDAY

Key Points

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Texas Capital Bank Wealth Management Services Inc purchased a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,996 shares of the software maker's stock, valued at approximately $700,000.

A number of other institutional investors have also recently made changes to their positions in WDAY. Brighton Jones LLC boosted its stake in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after acquiring an additional 2,792 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Workday by 24.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after acquiring an additional 595 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Workday by 12.9% in the fourth quarter. NewEdge Advisors LLC now owns 5,061 shares of the software maker's stock worth $1,306,000 after acquiring an additional 580 shares during the last quarter. Commerce Bank boosted its stake in shares of Workday by 502.7% in the fourth quarter. Commerce Bank now owns 15,416 shares of the software maker's stock worth $3,978,000 after acquiring an additional 12,858 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of Workday by 12.3% in the fourth quarter. GeoWealth Management LLC now owns 2,153 shares of the software maker's stock worth $556,000 after acquiring an additional 235 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder David A. Duffield sold 73,971 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the transaction, the insider directly owned 102,997 shares of the company's stock, valued at $24,581,264.02. The trade was a 41.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock worth $79,203,523 over the last three months. Company insiders own 19.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WDAY shares. KeyCorp lowered their price target on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. DA Davidson lifted their price objective on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Guggenheim reiterated a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Finally, Oppenheimer reduced their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock 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, twenty have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $293.08.

Workday Price Performance

WDAY stock opened at $231.85 on Tuesday. 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 $61.90 billion, a PE ratio of 128.09, a P/E/G ratio of 3.42 and a beta of 1.24. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The business's fifty day moving average price is $234.25 and its 200 day moving average price is $243.40.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating 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 return on equity of 8.00% and a net margin of 5.60%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

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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