Workday, Inc. (NASDAQ:WDAY) Shares Bought by TIAA Trust National Association

Key Points

• TIAA Trust National Association significantly increased its position in Workday, raising its stake by 1,368.1% during the first quarter, acquiring a total of 79,735 shares valued at approximately $18.6 million.
• Analyst ratings on Workday vary, with price targets ranging from $230 to $360, reflecting diverse opinions on the stock's future performance as seven analysts assigned a hold rating while nineteen issued buy recommendations.
• Workday reported a 12.6% revenue increase year-over-year for the last quarter, with earnings per share reaching $2.23, outperforming analyst expectations of $2.01.

TIAA Trust National Association raised its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,368.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 79,735 shares of the software maker's stock after purchasing an additional 74,304 shares during the period. TIAA Trust National Association's holdings in Workday were worth $18,620,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in shares of 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 acquiring an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday during the first quarter valued at $32,000. Financial Management Professionals Inc. boosted its stake in shares of Workday by 54.0% during the first 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 during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday during the first quarter valued at $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Workday during the first quarter valued at $40,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on WDAY shares. DA Davidson increased their price objective on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and set a $235.00 price objective (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Wells Fargo & Company decreased their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price objective on shares of Workday in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Performance

NASDAQ WDAY opened at $222.22 on Friday. The firm has a market capitalization of $59.33 billion, a P/E ratio of 122.77, a P/E/G ratio of 3.36 and a beta of 1.24. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The business's 50-day simple moving average is $239.40 and its 200-day simple moving average is $246.13.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company's revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 73,971 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 102,997 shares of the company's stock, valued at approximately $24,581,264.02. The trade was a 41.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction that occurred 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 in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 329,005 shares of company stock worth $79,203,523. 19.31% 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.

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