Xponance Inc. Buys 7,835 Shares of Workday, Inc. (NASDAQ:WDAY)

Xponance Inc. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,483 shares of the software maker's stock after buying an additional 7,835 shares during the period. Xponance Inc.'s holdings in Workday were worth $13,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings 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 period. TCTC Holdings LLC bought a new position in shares of Workday during the fourth quarter valued at $35,000. Farmers & Merchants Investments Inc. bought a new position in shares of Workday during the first quarter valued at $32,000. Rakuten Securities Inc. lifted its holdings in shares of Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of the company'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 completion of the transaction, the insider owned 102,997 shares of the company's stock, valued at $24,581,264.02. This represents a 41.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the transaction, the director directly owned 67,500 shares of the company's stock, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 328,554 shares of company stock worth $79,097,601. Insiders own 19.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $340.00 price target on shares of Workday in a report on Friday, May 23rd. Wells Fargo & Company cut their price target on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. Finally, Oppenheimer cut their price target on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $296.88.

Workday Stock Down 2.6%

Shares of WDAY traded down $5.93 on Friday, hitting $223.37. The company's stock had a trading volume of 2,494,795 shares, compared to its average volume of 2,482,412. 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's fifty day moving average price is $248.29 and its 200-day moving average price is $248.51. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a market capitalization of $59.64 billion, a price-to-earnings ratio of 123.41, a P/E/G ratio of 3.46 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data 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. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the firm earned $1.74 EPS. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday 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.