Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,251 shares of the software maker’s stock after acquiring an additional 423 shares during the quarter. Fifth Third Bancorp’s holdings in Workday were worth $2,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its position in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP purchased a new position in Workday during the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after acquiring an additional 7,802 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after acquiring an additional 7,175 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 2.3 %

Shares of Workday stock opened at $264.25 on Tuesday. The firm has a market cap of $70.29 billion, a price-to-earnings ratio of 43.82, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company’s 50-day simple moving average is $260.91 and its 200-day simple moving average is $247.93. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDAY. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley raised their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Finally, Barclays lowered their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Workday Company 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.