Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Comerica Bank

Comerica Bank raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 13.2% during the first quarter, HoldingsChannel reports. The firm owned 42,664 shares of the software maker’s stock after purchasing an additional 4,977 shares during the quarter. Comerica Bank’s holdings in Workday were worth $11,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the period. Norges Bank acquired a new stake in Workday during the fourth quarter valued at $1,491,149,000. Sustainable Growth Advisers LP grew its position in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the period. Clearbridge Investments LLC lifted its holdings in Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Workday by 5.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock valued at $417,338,000 after purchasing an additional 75,903 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 2.6 %

NASDAQ:WDAY traded down $5.99 on Thursday, reaching $221.13. The stock had a trading volume of 778,344 shares, compared to its average volume of 2,153,806. The company has a market cap of $58.60 billion, a price-to-earnings ratio of 40.92, a P/E/G ratio of 5.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s fifty day moving average is $221.20 and its two-hundred day moving average is $255.90. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28.

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

Insider Buying and Selling at Workday

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 transaction of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares in the company, valued at approximately $128,877,840. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares of the company’s stock, valued at approximately $128,877,840. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 524,672 shares of company stock worth $115,938,834. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Bank of America decreased their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Loop Capital decreased their price target on shares of Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a research note on Friday, May 24th. Royal Bank of Canada decreased their price target on shares of Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Finally, Citigroup decreased their price target on shares of Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.44.

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.