Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Workday, Inc. $WDAY

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Workday, Inc. (NASDAQ:WDAY) by 46.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 118,102 shares of the software maker’s stock after acquiring an additional 37,677 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $25,366,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Workday by 3.2% during the third quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock worth $5,247,687,000 after acquiring an additional 684,872 shares during the last quarter. State Street Corp grew its position in shares of Workday by 0.8% during the third quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock worth $2,328,959,000 after acquiring an additional 74,052 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Workday by 41.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock worth $905,530,000 after acquiring an additional 1,103,421 shares during the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Workday by 13.1% during the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock worth $774,478,000 after acquiring an additional 371,561 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Wells Fargo & Company lowered their target price on shares of Workday from $255.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Loop Capital set a $210.00 target price on shares of Workday in a research report on Thursday, March 12th. Robert W. Baird set a $195.00 target price on shares of Workday in a research report on Tuesday, February 24th. Finally, BMO Capital Markets lowered their price objective on shares of Workday from $204.00 to $182.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $199.71.

Workday Stock Performance

NASDAQ:WDAY opened at $129.16 on Wednesday. The firm’s fifty day moving average price is $133.18 and its 200 day moving average price is $185.66. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $33.19 billion, a price-to-earnings ratio of 50.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.14.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm posted $1.92 EPS. Workday’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 5.11 EPS for the current year.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares of the company’s stock, valued at approximately $21,406,225.74. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CAO Mark S. Garfield sold 1,585 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares of the company’s stock, valued at approximately $3,557,344.35. This trade represents a 4.80% 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. Insiders have sold 989,814 shares of company stock valued at $131,576,291 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Profile

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.