Federated Hermes Inc. Buys 89,039 Shares of Workday, Inc. (NASDAQ:WDAY)

Federated Hermes Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 439,512 shares of the software maker's stock after buying an additional 89,039 shares during the quarter. Federated Hermes Inc. owned 0.17% of Workday worth $121,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC boosted its stake in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Workday in the first quarter worth approximately $25,000. VisionPoint Advisory Group LLC boosted its stake in shares of Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock worth $26,000 after acquiring an additional 84 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Workday in the third quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Workday in the second quarter worth approximately $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 0.5 %

Shares of WDAY traded down $1.38 during mid-day trading on Thursday, reaching $255.64. The company's stock had a trading volume of 1,259,523 shares, compared to its average volume of 1,780,371. The stock has a market cap of $67.49 billion, a PE ratio of 49.64, a price-to-earnings-growth ratio of 6.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company's 50 day moving average is $279.24 and its 200 day moving average is $261.98.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business's revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. Equities analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WDAY. Citigroup boosted their price objective on Workday from $270.00 to $293.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 27th. BMO Capital Markets boosted their price objective on Workday from $290.00 to $338.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 13th. Needham & Company LLC boosted their price objective on Workday from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. TheStreet raised Workday from a "c" rating to a "b-" rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus upped their price target on Workday from $250.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $293.61.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the company's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares of the company's stock, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Workday news, insider Richard Harry Sauer sold 8,447 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the completion of the sale, the insider now directly owns 66,356 shares of the company's stock, valued at approximately $17,797,342.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares of the company's stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock valued at $117,731,569 in the last three months. 21.09% of the stock is currently owned by company 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.