Zurcher Kantonalbank Zurich Cantonalbank Has $22.70 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Zurcher Kantonalbank increased its holdings in Workday, Inc. by **45.6%**, acquiring an additional **30,429 shares** during the first quarter, bringing its total ownership to **97,191 shares valued at $22.7 million**.
• Insider trading activity saw major shareholder David A. Duffield sell **73,971 shares**, representing a **41.80% decrease** in his ownership, while insiders have collectively sold **329,005 shares** in the last quarter.
• Wall Street analysts have mixed views on Workday's stock, with price targets ranging from **$250.00** to **$315.00**, resulting in a consensus rating of **"Moderate Buy."**

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 45.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,191 shares of the software maker's stock after acquiring an additional 30,429 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Workday were worth $22,697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. T. Rowe Price Investment Management Inc. bought a new position in shares of Workday in the fourth quarter valued at approximately $658,735,000. Geode Capital Management LLC boosted its holdings in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Workday by 102.6% in the fourth quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock valued at $478,846,000 after acquiring an additional 939,955 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Workday by 51.2% in the fourth quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock valued at $584,175,000 after acquiring an additional 767,034 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 1.5%

Shares of Workday stock traded down $3.36 during midday trading on Friday, reaching $226.03. 1,517,285 shares of the company's stock traded hands, compared to its average volume of 2,263,804. The company has a market cap of $60.35 billion, a price-to-earnings ratio of 125.12, a price-to-earnings-growth ratio of 3.59 and a beta of 1.21. The company's 50 day simple moving average is $239.71 and its 200 day simple moving average is $246.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. Workday's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WDAY shares. Stifel Nicolaus reduced their target price on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Guggenheim restated a "neutral" rating on shares of Workday in a report on Friday, May 23rd. Westpark Capital raised their target price on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. JMP Securities restated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 target price on shares of Workday in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.88.

Insider Transactions at Workday

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

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.