Workday, Inc. $WDAY Position Increased by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 565.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,523 shares of the software maker’s stock after acquiring an additional 25,933 shares during the period. Fifth Third Bancorp’s holdings in Workday were worth $3,966,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WDAY. Rakuten Securities Inc. bought a new position in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday during the 3rd quarter worth about $26,000. DT Investment Partners LLC acquired a new stake in shares of Workday in the 4th quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in shares of Workday in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday in the third quarter valued at approximately $30,000. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Down 0.4%

NASDAQ:WDAY opened at $144.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock’s 50-day moving average is $131.46 and its two-hundred day moving average is $144.55. The stock has a market cap of $35.76 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 EPS. As a group, equities research analysts forecast that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of research analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. Summit Redstone set a $275.00 price target on Workday in a research report on Wednesday, May 27th. Wells Fargo & Company boosted their price objective on Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. The Goldman Sachs Group cut their price objective on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Finally, Needham & Company LLC decreased their target price on Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the transaction, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the sale, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 875,020 shares of company stock worth $113,938,503 in the last 90 days. Insiders own 18.64% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.