Workday, Inc. (NASDAQ:WDAY) Stock Position Lifted by First National Trust Co

First National Trust Co grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,453 shares of the software maker’s stock after purchasing an additional 75 shares during the period. First National Trust Co’s holdings in Workday were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the period. Winslow Capital Management LLC raised its position in Workday by 76.4% in the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after acquiring an additional 1,000,922 shares in the last quarter. Morgan Stanley lifted its holdings in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the last quarter. Alkeon Capital Management LLC bought a new position in shares of Workday during the 3rd quarter valued at about $107,425,000. Finally, Invesco Ltd. grew its stake in shares of Workday by 22.1% in the 3rd quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock worth $387,205,000 after purchasing an additional 326,283 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WDAY shares. Guggenheim reiterated a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, February 27th. Mizuho boosted their price target on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Workday in a research note on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Tuesday, February 27th. Finally, UBS Group reduced their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Price Performance

Shares of NASDAQ WDAY traded up $4.93 during mid-day trading on Friday, hitting $255.78. 3,072,637 shares of the stock were exchanged, compared to its average volume of 1,740,171. The company has a market cap of $67.53 billion, a P/E ratio of 49.67, a PEG ratio of 6.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28. The stock’s fifty day simple moving average is $268.07 and its two-hundred day simple moving average is $264.85.

Workday (NASDAQ:WDAY) last released its quarterly 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. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 over the last 90 days. Insiders own 21.09% of the company’s stock.

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.