Tounjian Advisory Partners LLC Invests $544,000 in Workday, Inc. (NASDAQ:WDAY)

Tounjian Advisory Partners LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,330 shares of the software maker's stock, valued at approximately $544,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter worth about $25,000. Avion Wealth lifted its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC acquired a new stake in Workday during the 4th quarter worth about $35,000. Financial Management Professionals Inc. lifted its position in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the period. Finally, Rakuten Securities Inc. lifted its position in Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 70,144 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total value of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,776,029.22. This trade represents a 40.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,338 shares of company stock worth $56,281,251. Corporate insiders own 19.31% of the company's stock.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $6.15 during midday trading on Friday, reaching $244.54. 2,199,157 shares of the company's stock traded hands, compared to its average volume of 2,462,165. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market cap of $65.29 billion, a P/E ratio of 40.55, a PEG ratio of 3.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a fifty day simple moving average of $244.82 and a two-hundred day simple moving average of $252.65.

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. 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%. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 EPS. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on WDAY shares. Canaccord Genuity Group lifted their price target on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price objective on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $340.00 target price on shares of Workday in a report on Friday, May 23rd. Westpark Capital lifted their price target on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Piper Sandler restated a "neutral" rating and issued a $255.00 price objective (up previously from $230.00) on shares of Workday in a research report on Friday, May 23rd. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $293.54.

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.