Workday, Inc. (NASDAQ:WDAY) Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 217,149 shares of the software maker's stock after purchasing an additional 56,230 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Workday worth $54,687,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of Workday in the third quarter worth $26,000. Crews Bank & Trust purchased a new stake in Workday during the 4th quarter worth $26,000. Meeder Asset Management Inc. increased its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. New Millennium Group LLC raised its position in Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock valued at $36,000 after purchasing an additional 94 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock worth $36,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company's stock, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY traded down $2.08 during midday trading on Monday, reaching $258.05. 1,382,014 shares of the company traded hands, compared to its average volume of 2,045,437. The firm has a market capitalization of $68.64 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The company has a fifty day moving average price of $262.13 and a 200 day moving average price of $251.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Bank of America lowered their target price on Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Piper Sandler reiterated a "neutral" rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and boosted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Finally, Mizuho boosted their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average price target of $292.43.

Workday Company 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.