Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Ally Financial Inc.

Ally Financial Inc. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,000 shares of the software maker's stock after acquiring an additional 4,000 shares during the period. Ally Financial Inc.'s holdings in Workday were worth $3,612,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Crews Bank & Trust bought a new stake in Workday during the 4th quarter worth approximately $26,000. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at about $25,000. Avion Wealth increased its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. TCTC Holdings LLC bought a new stake in Workday during the fourth quarter valued at approximately $35,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of Workday 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 sale, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last 90 days. Insiders own 20.00% of the company's stock.

Workday Stock Up 3.4 %

Shares of WDAY traded up $7.29 during mid-day trading on Tuesday, hitting $221.39. The company's stock had a trading volume of 682,976 shares, compared to its average volume of 2,360,249. The firm has a market capitalization of $58.89 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 3.55 and a beta of 1.32. The company's 50-day moving average is $243.13 and its 200-day moving average is $252.17. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WDAY. DA Davidson cut their price objective on Workday from $270.00 to $230.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Mizuho lowered their price target on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group lifted their price target on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Piper Sandler boosted their price objective on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, BNP Paribas raised Workday to a "strong-buy" rating in a research note on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $295.00.

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.