Bank of New York Mellon Corp Purchases 7,688 Shares of Workday, Inc. $WDAY

Bank of New York Mellon Corp grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,352,611 shares of the software maker’s stock after purchasing an additional 7,688 shares during the quarter. Bank of New York Mellon Corp’s holdings in Workday were worth $290,514,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in shares of Workday during the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the third quarter valued at about $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter valued at about $30,000. DT Investment Partners LLC acquired a new position in shares of Workday during the fourth quarter valued at about $27,000. Finally, LRI Investments LLC acquired a new position in shares of Workday during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of several recent analyst reports. Loop Capital set a $210.00 price objective on shares of Workday in a report on Thursday, March 12th. Raymond James Financial restated a “market perform” rating on shares of Workday in a report on Monday, February 9th. William Blair upgraded shares of Workday to a “strong-buy” rating in a report on Friday, May 22nd. Robert W. Baird set a $195.00 price target on shares of Workday in a report on Tuesday, February 24th. Finally, TD Cowen reiterated a “hold” rating on shares of Workday in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.03.

Insider Activity

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the sale, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the transaction, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at $27,942,984.60. The trade was a 2.68% decrease in their position. 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 sold a total of 774,814 shares of company stock valued at $101,308,591 in the last three months. Corporate insiders own 18.64% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $147.91 on Friday. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $257.09. The company’s 50 day moving average is $126.90 and its 200 day moving average is $163.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $36.53 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.23 EPS. On average, sell-side analysts forecast that Workday, Inc. will post 5.19 EPS for the current year.

About Workday

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.