Workday, Inc. (NASDAQ:WDAY) Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE has increased its holdings in Workday, Inc. by 3.8% during the first quarter, owning a total of 97,884 shares valued at approximately $22.86 million.
• Institutional investors and hedge funds now own 89.81% of Workday's stock, reflecting widespread institutional interest in the company.
• CEO Carl M. Eschenbach sold 6,250 shares of Workday, marking an 80.94% decrease in his position, while major shareholder David A. Duffield sold 73,971 shares as well.

US Bancorp DE boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,884 shares of the software maker's stock after purchasing an additional 3,572 shares during the period. US Bancorp DE's holdings in Workday were worth $22,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Workday in the 1st quarter valued at approximately $32,000. Financial Management Professionals Inc. lifted its position in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Workday in the 1st quarter valued at approximately $40,000. Finally, BankPlus Trust Department purchased a new stake in shares of Workday in the 1st quarter valued at approximately $40,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at $352,440.96. This trade represents a 80.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 73,971 shares of Workday stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the transaction, the insider directly owned 102,997 shares of the company's stock, valued at $24,581,264.02. This represents a 41.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock worth $79,203,523 in the last ninety days. Company insiders own 19.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WDAY shares. Needham & Company LLC restated a "buy" rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, May 21st. Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, DA Davidson upped their price target on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Stock Performance

Shares of WDAY opened at $222.22 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company's fifty day moving average is $239.40 and its 200-day moving average is $246.13. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The firm has a market cap of $59.33 billion, a price-to-earnings ratio of 122.77, a price-to-earnings-growth ratio of 3.36 and a beta of 1.24.

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, topping the consensus estimate 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 net margin of 5.60% and a return on equity of 8.00%. The business's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS. Equities analysts expect that Workday, Inc. will post 2.63 EPS 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.

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