Nisa Investment Advisors LLC Buys 8,093 Shares of Workday, Inc. (NASDAQ:WDAY)

Nisa Investment Advisors LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 33.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,055 shares of the software maker's stock after purchasing an additional 8,093 shares during the period. Nisa Investment Advisors LLC's holdings in Workday were worth $7,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WDAY. LBP AM SA grew its position in Workday by 1.2% in the first quarter. LBP AM SA now owns 41,070 shares of the software maker's stock valued at $9,591,000 after acquiring an additional 487 shares during the period. Cornerstone Planning Group LLC grew its position in Workday by 76.1% in 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 during the period. Linden Thomas Advisory Services LLC grew its position in Workday by 5.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 8,602 shares of the software maker's stock valued at $2,009,000 after acquiring an additional 475 shares during the period. Greenleaf Trust grew its position in Workday by 32.9% in the first quarter. Greenleaf Trust now owns 3,056 shares of the software maker's stock valued at $714,000 after acquiring an additional 757 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in Workday by 17.0% in the first quarter. Valeo Financial Advisors LLC now owns 2,177 shares of the software maker's stock valued at $508,000 after acquiring an additional 317 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Down 2.6%

NASDAQ:WDAY traded down $5.93 during mid-day trading on Friday, hitting $223.37. The company had a trading volume of 2,494,795 shares, compared to its average volume of 2,485,606. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The business's fifty day moving average is $248.29 and its two-hundred day moving average is $248.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $59.64 billion, a P/E ratio of 123.41, a P/E/G ratio of 3.38 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last announced 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. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDAY. Scotiabank lowered their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their price target on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Westpark Capital upped 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. KeyCorp lowered their price target on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock 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 note on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $296.88.

Insiders Place Their Bets

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the transaction, the insider owned 102,997 shares of the company's stock, valued at approximately $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,554 shares of company stock valued at $79,097,601 over the last ninety days. 20.00% 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.