Fifth Third Wealth Advisors LLC Buys New Holdings in Workday, Inc. (NASDAQ:WDAY)

Fifth Third Wealth Advisors LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,112 shares of the software maker’s stock, valued at approximately $545,000.

A number of other institutional investors have also recently bought and sold shares of the business. Sanctuary Advisors LLC increased its holdings 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 acquiring an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP acquired a new position in shares of Workday in the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Workday by 32.4% in 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 purchasing an additional 7,802 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after buying an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Up 0.9 %

NASDAQ WDAY opened at $250.70 on Friday. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 41.58, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $262.69 and its 200 day moving average is $246.45.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts expect that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on WDAY. Oppenheimer reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. Bank of America decreased 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. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Barclays lowered their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.