Whittier Trust Co. Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Whittier Trust Co. boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 107.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,186 shares of the software maker’s stock after acquiring an additional 1,134 shares during the period. Whittier Trust Co.’s holdings in Workday were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Lido Advisors LLC increased its position in shares of Workday by 19.1% during the third quarter. Lido Advisors LLC now owns 1,623 shares of the software maker’s stock worth $349,000 after purchasing an additional 260 shares in the last quarter. Schroder Investment Management Group grew its position in Workday by 75.3% during the 3rd quarter. Schroder Investment Management Group now owns 46,643 shares of the software maker’s stock worth $10,021,000 after purchasing an additional 20,033 shares during the period. Toroso Investments LLC raised its stake in shares of Workday by 58.2% during the 3rd quarter. Toroso Investments LLC now owns 4,647 shares of the software maker’s stock valued at $998,000 after buying an additional 1,709 shares during the last quarter. Kampmann Melissa S. acquired a new position in shares of Workday in the 3rd quarter valued at about $3,019,000. Finally, Comerica Bank boosted its stake in shares of Workday by 1,499.6% in the third quarter. Comerica Bank now owns 33,896 shares of the software maker’s stock worth $7,282,000 after buying an additional 31,777 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on WDAY shares. Oppenheimer reduced their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Morgan Stanley dropped their price target on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Royal Bank of Canada cut their price objective on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Piper Sandler dropped their target price on Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Finally, Guggenheim restated a “sell” rating and issued a $190.00 price target on shares of Workday in a research note on Tuesday, June 25th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $282.11.

Workday Price Performance

Shares of Workday stock traded down $3.45 on Tuesday, hitting $223.09. 1,907,457 shares of the company were exchanged, compared to its average volume of 2,200,118. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $59.12 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 5.77 and a beta of 1.35. The company has a 50-day moving average price of $229.26 and a 200 day moving average price of $261.26.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company posted $0.16 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Insiders have sold 389,162 shares of company stock worth $87,128,156 in the last ninety days. 20.00% of the stock is owned by insiders.

About Workday

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.