Truist Financial Corp grew its position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,620 shares of the software maker’s stock after purchasing an additional 1,631 shares during the period. Truist Financial Corp’s holdings in Workday were worth $21,815,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Atticus Wealth Management LLC acquired a new stake in shares of Workday in the first quarter worth approximately $25,000. Elequin Securities LLC acquired a new stake in shares of Workday in the fourth quarter worth approximately $27,000. West Oak Capital LLC acquired a new stake in shares of Workday in the first quarter worth approximately $29,000. Valley National Advisers Inc. boosted its position in shares of Workday by 83.7% in the first quarter. Valley National Advisers Inc. now owns 158 shares of the software maker’s stock worth $30,000 after acquiring an additional 72 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Workday in the fourth quarter worth approximately $38,000. 67.80% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on WDAY shares. JPMorgan Chase & Co. lifted their price target on shares of Workday from $223.00 to $240.00 in a research report on Monday, July 17th. Jefferies Financial Group lifted their price target on shares of Workday from $235.00 to $250.00 in a research report on Friday, May 26th. JMP Securities lifted their price target on shares of Workday from $210.00 to $252.00 in a research report on Friday, May 26th. Morgan Stanley lifted their price target on shares of Workday from $230.00 to $250.00 in a research report on Friday, May 26th. Finally, Royal Bank of Canada began coverage on shares of Workday in a research note on Wednesday, June 28th. They set an “outperform” rating and a $275.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.76.
Insiders Place Their Bets
In other Workday news, major shareholder David A. Duffield sold 108,334 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $208.37, for a total transaction of $22,573,555.58. Following the sale, the insider now owns 216,666 shares in the company, valued at approximately $45,146,694.42. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 108,334 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $208.37, for a total value of $22,573,555.58. Following the transaction, the insider now owns 216,666 shares in the company, valued at approximately $45,146,694.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Barbara A. Larson sold 225 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $212.37, for a total value of $47,783.25. Following the completion of the sale, the chief financial officer now directly owns 67,743 shares of the company’s stock, valued at approximately $14,386,580.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,957 shares of company stock worth $36,069,800. Company insiders own 21.09% of the company’s stock.
Workday Price Performance
Shares of Workday stock opened at $233.55 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $221.79 and its two-hundred day moving average price is $202.62. Workday, Inc. has a 52 week low of $128.72 and a 52 week high of $240.18. The stock has a market cap of $60.96 billion, a PE ratio of -226.75, a price-to-earnings-growth ratio of 13.12 and a beta of 1.27.
Workday (NASDAQ:WDAY – Get Free Report) last issued its quarterly earnings results on Thursday, May 25th. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Workday had a negative net margin of 4.09% and a negative return on equity of 0.44%. Workday’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 0.71 EPS for the current fiscal 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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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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