Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.8% in the first quarter, HoldingsChannel.com reports. The firm owned 1,981,734 shares of the software maker’s stock after buying an additional 125,956 shares during the quarter. Invesco Ltd.’s holdings in Workday were worth $462,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Berger Financial Group Inc acquired a new position in Workday in the first quarter valued at approximately $4,973,000. Fiduciary Family Office LLC acquired a new position in Workday in the first quarter valued at approximately $772,000. Cynosure Group LLC lifted its stake in Workday by 5.5% in the first quarter. Cynosure Group LLC now owns 23,845 shares of the software maker’s stock valued at $5,569,000 after buying an additional 1,250 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Workday in the first quarter valued at approximately $5,007,000. Finally, Founders Financial Alliance LLC purchased a new stake in Workday in the first quarter valued at approximately $305,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 0.5%

NASDAQ:WDAY opened at $222.07 on Monday. The stock has a fifty day moving average price of $237.71 and a two-hundred day moving average price of $245.15. The stock has a market capitalization of $59.29 billion, a price-to-earnings ratio of 122.69, a PEG ratio of 3.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDAY shares. Oppenheimer reduced their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. Citigroup cut Workday from a “neutral” rating to a “mixed” rating in a research note on Friday, May 16th. Westpark Capital boosted their price objective on Workday from $315.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Finally, Stifel Nicolaus reduced their price objective on Workday from $310.00 to $275.00 and set a “hold” rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $296.88.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 72,551 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider owned 102,997 shares of the company’s stock, valued at approximately $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the company’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock valued at $79,203,523 in the last three months. 20.00% of the stock is owned by insiders.

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.