Fifth Third Wealth Advisors LLC Buys New Position in Workday, Inc. (NASDAQ:WDAY)

Fifth Third Wealth Advisors LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,112 shares of the software maker's stock, valued at approximately $545,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker's stock worth $514,637,000 after buying an additional 1,016,394 shares during the period. Two Sigma Advisers LP increased its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker's stock valued at $150,019,000 after acquiring an additional 562,400 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Workday in the third quarter worth approximately $78,003,000. Finally, D1 Capital Partners L.P. boosted its position in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker's stock worth $115,804,000 after acquiring an additional 312,500 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

WDAY stock traded up $1.07 during trading on Friday, hitting $251.77. 332,062 shares of the company's stock traded hands, compared to its average volume of 1,952,767. The stock has a market capitalization of $66.97 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a fifty day moving average price of $262.69 and a two-hundred day moving average price of $246.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during 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 company's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.64 EPS for the current fiscal year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares of the company's stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 5,498 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research analyst reports. Bank of America dropped their price target on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. The Goldman Sachs Group upped their price objective on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Citigroup reduced their target price on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday. Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and lifted their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.25.

About Workday

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.