TCTC Holdings LLC Buys Shares of 136 Workday, Inc. (NASDAQ:WDAY)

TCTC Holdings LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 136 shares of the software maker’s stock, valued at approximately $35,000.

Several other large investors also recently added to or reduced their stakes in the stock. Parnassus Investments LLC lifted its stake in shares of Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Workday in the 4th quarter valued at $194,679,000. Two Sigma Advisers LP lifted its stake in shares of Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Workday by 62.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock valued at $350,921,000 after purchasing an additional 524,799 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after purchasing an additional 506,812 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. The trade was a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,329 shares of company stock worth $114,843,294 in the last quarter. 20.00% of the stock is owned by insiders.

Workday Trading Up 2.6 %

NASDAQ:WDAY opened at $250.62 on Tuesday. The stock’s 50 day moving average price is $256.84 and its 200 day moving average price is $255.38. The company has a market capitalization of $66.66 billion, a PE ratio of 41.56, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WDAY shares. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Piper Sandler increased their target price on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Oppenheimer increased their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

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.