Allstate Corp Takes Position in Workday, Inc. (NASDAQ:WDAY)

Allstate Corp bought a new position in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,310 shares of the software maker's stock, valued at approximately $1,628,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CreativeOne Wealth LLC acquired a new stake in shares of Workday during the 3rd quarter worth $696,000. Captrust Financial Advisors lifted its stake in shares of Workday by 24.2% in the 3rd quarter. Captrust Financial Advisors now owns 12,853 shares of the software maker's stock valued at $3,141,000 after purchasing an additional 2,506 shares in the last quarter. Fred Alger Management LLC acquired a new stake in Workday during the 3rd quarter worth approximately $56,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Workday by 49.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 347,625 shares of the software maker's stock valued at $84,963,000 after buying an additional 115,696 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in Workday by 69.4% during the third quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker's stock worth $2,856,000 after buying an additional 4,787 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and raised their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Royal Bank of Canada upped their price objective on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered Workday from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $300.18.

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Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 429,316 shares of company stock valued at $108,168,536 in the last quarter. Company insiders own 20.00% of the company's stock.

Workday Price Performance

Workday stock traded down $6.20 during midday trading on Thursday, hitting $229.19. The company's stock had a trading volume of 2,877,837 shares, compared to its average volume of 2,533,943. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average price is $255.66 and its 200-day moving average price is $254.45. The company has a market capitalization of $60.97 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.