Workday, Inc. (NASDAQ:WDAY) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. increased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 362.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,472 shares of the software maker's stock after purchasing an additional 50,545 shares during the quarter. Corebridge Financial Inc.'s holdings in Workday were worth $16,636,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new stake in Workday during the fourth quarter worth $25,000. Avion Wealth boosted its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new position in shares of Workday in the 4th quarter valued at $35,000. Finally, True Wealth Design LLC raised its position in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock worth $36,000 after acquiring an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $6.06 during midday trading on Friday, reaching $238.49. 1,888,639 shares of the company's stock traded hands, compared to its average volume of 2,522,044. The company has a fifty day simple moving average of $256.67 and a two-hundred day simple moving average of $254.82. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market cap of $63.44 billion, a P/E ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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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 during the quarter, compared to analyst estimates of $2.18 billion. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was 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. This represents a 30.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares in the company, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WDAY. BMO Capital Markets raised their price target on shares of Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Scotiabank lowered their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Ten investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.36.

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.