Ally Financial Inc. Acquires 4,000 Shares of Workday, Inc. (NASDAQ:WDAY)

Ally Financial Inc. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the software maker’s stock after acquiring an additional 4,000 shares during the quarter. Ally Financial Inc.’s holdings in Workday were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in shares of Workday during the 4th quarter valued at $26,000. Avion Wealth raised its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new stake in Workday during the fourth quarter valued at $35,000. Finally, Rakuten Securities Inc. grew its position in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $227.71 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm has a market cap of $60.57 billion, a P/E ratio of 37.76, a P/E/G ratio of 3.55 and a beta of 1.32. The business’s 50 day moving average price is $245.82 and its 200-day moving average price is $252.48.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada raised their price target on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Redburn Atlantic started coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $296.25.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,724 shares of company stock worth $77,976,126 over the last 90 days. 20.00% of the stock is owned by company 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.