Workday, Inc. (NASDAQ:WDAY) Stake Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Workday, Inc. (NASDAQ:WDAY) by 45.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,794 shares of the software maker’s stock after buying an additional 5,519 shares during the quarter. Principal Financial Group Inc.’s holdings in Workday were worth $4,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Workday in the 3rd quarter valued at approximately $26,000. SouthState Corp lifted its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after purchasing an additional 129 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Workday in the second quarter worth $35,000. Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares in the last quarter. Finally, Asset Dedication LLC acquired a new position in Workday during the second quarter valued at $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $236.90, for a total transaction of $13,266,400.00. Following the transaction, the insider now owns 337,000 shares of the company’s stock, valued at approximately $79,835,300. This represents a 14.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,463 shares of company stock worth $92,193,408 over the last three months. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 2.4 %

Shares of Workday stock opened at $251.84 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company’s fifty day simple moving average is $260.69 and its 200-day simple moving average is $244.08. The company has a market cap of $66.99 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 5.04 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. As a group, sell-side analysts expect that Workday, Inc. will post 2.58 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank started coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Citigroup lowered their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. StockNews.com raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Piper Sandler reissued a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $291.36.

Workday Profile

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.