Cullen Frost Bankers Inc. Has $23.69 Million Position in Workday, Inc. (NASDAQ:WDAY)

Cullen Frost Bankers Inc. lowered its position in Workday, Inc. (NASDAQ:WDAY) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,953 shares of the software maker’s stock after selling 1,212 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $23,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. Norges Bank bought a new position in shares of Workday during the 4th quarter worth $1,491,149,000. Sustainable Growth Advisers LP grew its stake in shares of Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the period. Clearbridge Investments LLC boosted its stake in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after purchasing an additional 281,207 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Workday by 5.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after purchasing an additional 75,903 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. The Goldman Sachs Group decreased their price objective on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Loop Capital raised their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Mizuho decreased their price objective on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $288.15.

Workday Stock Performance

NASDAQ WDAY traded down $1.19 during midday trading on Friday, hitting $254.60. The company had a trading volume of 2,252,079 shares, compared to its average volume of 2,208,223. The firm has a fifty day simple moving average of $232.56 and a two-hundred day simple moving average of $245.51. The stock has a market cap of $67.47 billion, a price-to-earnings ratio of 45.87, a P/E/G ratio of 5.56 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now owns 92,014 shares in the company, valued at $20,856,813.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 in the company, valued at approximately $20,856,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the sale, the insider now directly owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. Over the last three months, insiders have sold 515,902 shares of company stock valued at $117,998,849. 20.00% of the stock is currently owned by corporate insiders.

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.