QRG Capital Management Inc. Purchases 1,132 Shares of Workday, Inc. (NASDAQ:WDAY)

QRG Capital Management Inc. increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 23.6% in the first quarter, Holdings Channel reports. The institutional investor owned 5,926 shares of the software maker’s stock after buying an additional 1,132 shares during the period. QRG Capital Management Inc.’s holdings in Workday were worth $1,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. B. Riley Wealth Advisors Inc. boosted its holdings in Workday by 22.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock worth $519,000 after purchasing an additional 450 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Workday by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 455,413 shares of the software maker’s stock valued at $125,348,000 after acquiring an additional 17,850 shares in the last quarter. Marcum Wealth LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $207,000. Finally, BKM Wealth Management LLC bought a new stake in Workday during the fourth quarter worth about $117,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the transaction, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The disclosure for this sale can be found here. Insiders have sold 524,672 shares of company stock valued at $115,938,834 over the last three months. 20.00% of the stock is owned by insiders.

Workday Price Performance

Shares of NASDAQ WDAY traded up $0.40 during mid-day trading on Wednesday, reaching $236.03. The company had a trading volume of 345,259 shares, compared to its average volume of 2,182,658. The firm has a market cap of $62.55 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 5.86 and a beta of 1.35. The business’s 50-day simple moving average is $226.77 and its 200 day simple moving average is $259.33. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts predict that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Morgan Stanley lowered their target price on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. TD Cowen decreased their price objective on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Canaccord Genuity Group dropped their target price on shares of Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Wells Fargo & Company reduced their price target on Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $281.44.

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.