Victory Capital Management Inc. Acquires 5,543 Shares of Workday, Inc. (NASDAQ:WDAY)

Victory Capital Management Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 171,692 shares of the software maker's stock after purchasing an additional 5,543 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Workday worth $40,095,000 as of its most recent filing with the SEC.

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

Workday Trading Up 0.3%

WDAY stock traded up $0.65 during midday trading on Monday, reaching $233.71. 2,174,432 shares of the company's stock traded hands, compared to its average volume of 2,482,802. The company has a market capitalization of $62.40 billion, a P/E ratio of 129.12, a PEG ratio of 3.52 and a beta of 1.21. The business has a 50-day moving average price of $245.83 and a two-hundred day moving average price of $247.13. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week 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.

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, beating the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion during 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%. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 earnings per share. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on 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 $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock worth $79,203,523 in the last quarter. Corporate insiders own 20.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. DA Davidson boosted their target price on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Stifel Nicolaus reduced their target price on Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Jefferies Financial Group reduced their target price on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. Needham & Company LLC restated a "buy" rating and set a $300.00 price target on shares of Workday in a research note on Wednesday, May 21st. Finally, Mizuho decreased their price target on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $296.88.

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.