First American Bank Has $2.60 Million Stake in Workday, Inc. (NASDAQ:WDAY)

First American Bank boosted its position in Workday, Inc. (NASDAQ:WDAY) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,091 shares of the software maker’s stock after acquiring an additional 146 shares during the period. First American Bank’s holdings in Workday were worth $2,604,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WDAY. VELA Investment Management LLC grew its stake in Workday by 21.7% in the 4th quarter. VELA Investment Management LLC now owns 2,725 shares of the software maker’s stock valued at $703,000 after purchasing an additional 485 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Workday by 6.9% in the fourth quarter. QRG Capital Management Inc. now owns 7,668 shares of the software maker’s stock worth $1,979,000 after purchasing an additional 498 shares during the period. Versor Investments LP boosted its position in shares of Workday by 90.2% during the 4th quarter. Versor Investments LP now owns 1,902 shares of the software maker’s stock valued at $491,000 after acquiring an additional 902 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Workday during the 4th quarter valued at $44,741,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Workday by 68.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 6,100 shares of the software maker’s stock worth $1,574,000 after purchasing an additional 2,477 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WDAY. Bank of America cut their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. KeyCorp raised their target price on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Loop Capital boosted their price objective on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho upped their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $302.14.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 433,321 shares of company stock worth $111,763,803 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

Workday stock opened at $260.57 on Friday. 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 12-month low of $199.81 and a 12-month high of $298.50. The business’s 50-day simple moving average is $259.89 and its 200 day simple moving average is $254.28. The stock has a market cap of $69.31 billion, a price-to-earnings ratio of 43.21, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.