TIAA Trust National Association Grows Stake in Workday, Inc. (NASDAQ:WDAY)

TIAA Trust National Association lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 344.5% during the fourth quarter, Holdings Channel reports. The fund owned 67,706 shares of the software maker’s stock after purchasing an additional 52,474 shares during the quarter. TIAA Trust National Association’s holdings in Workday were worth $18,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WDAY. Norges Bank purchased a new stake in shares of Workday during the fourth quarter worth about $600,504,000. Wellington Management Group LLP increased its holdings in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after buying an additional 1,406,153 shares during the last quarter. Winslow Capital Management LLC increased its holdings in Workday by 76.4% in the third quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares during the last quarter. Morgan Stanley increased its holdings in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the last quarter. Finally, Amundi increased its holdings in Workday by 233.9% in the fourth quarter. Amundi now owns 766,911 shares of the software maker’s stock valued at $125,712,000 after buying an additional 537,196 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on WDAY shares. The Goldman Sachs Group boosted their price objective on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Mizuho lifted their target price on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Barclays decreased their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. TheStreet upgraded Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Finally, Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.61.

Insider Activity

In other news, CEO Aneel Bhusri sold 3,335 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $265.89, for a total transaction of $886,743.15. Following the completion of the sale, the chief executive officer now owns 546,670 shares of the company’s stock, valued at $145,354,086.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $276.95, for a total value of $15,509,200.00. Following the sale, the insider now directly owns 1,011,000 shares in the company, valued at $279,996,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aneel Bhusri sold 3,335 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $265.89, for a total transaction of $886,743.15. Following the sale, the chief executive officer now owns 546,670 shares in the company, valued at $145,354,086.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 463,484 shares of company stock valued at $126,630,341. Insiders own 21.09% of the company’s stock.

Workday Stock Performance

WDAY stock traded down $0.78 during mid-day trading on Tuesday, reaching $271.66. 1,581,410 shares of the stock traded hands, compared to its average volume of 1,853,429. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52 week low of $174.25 and a 52 week high of $311.28. The business has a 50-day moving average of $286.56 and a two-hundred day moving average of $259.32. The firm has a market capitalization of $71.72 billion, a PE ratio of 52.75, a P/E/G ratio of 6.81 and a beta of 1.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share. As a group, equities analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

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.