Commerzbank Aktiengesellschaft FI Trims Stake in Workday, Inc. (NASDAQ:WDAY)

Commerzbank Aktiengesellschaft FI lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 94.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,375 shares of the software maker’s stock after selling 130,870 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Workday were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after buying an additional 54 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the first quarter valued at about $32,000. Financial Management Professionals Inc. raised its position in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock valued at $36,000 after buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in Workday in the first quarter valued at approximately $40,000. Finally, BankPlus Trust Department purchased a new stake in Workday during the first quarter worth approximately $40,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WDAY shares. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Stifel Nicolaus lowered their price target on Workday from $310.00 to $275.00 and set a “hold” rating on the stock in a report on Friday, May 23rd. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Friday, May 23rd. Piper Sandler reaffirmed an “underweight” rating and issued a $235.00 price target (down from $255.00) on shares of Workday in a research note on Thursday, July 10th. Finally, Westpark Capital increased their price objective on Workday from $315.00 to $328.00 and gave the company a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $296.88.

Workday Trading Up 1.8%

WDAY opened at $230.89 on Friday. The firm has a market capitalization of $61.65 billion, a price-to-earnings ratio of 127.56, a PEG ratio of 3.43 and a beta of 1.21. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The company’s 50 day moving average price is $246.35 and its two-hundred day moving average price is $247.41.

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

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director owned 67,500 shares of the company’s stock, valued at $16,767,675. The trade was a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the transaction, the chief financial officer directly owned 178,418 shares in the company, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. Insiders own 19.31% of the company’s stock.

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.