Thrivent Financial for Lutherans Buys New Position in Workday, Inc. (NASDAQ:WDAY)

Thrivent Financial for Lutherans acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,008 shares of the software maker's stock, valued at approximately $2,324,000.

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

Workday Stock Performance

Shares of WDAY stock traded down $8.36 during trading hours on Monday, reaching $230.13. 214,899 shares of the company's stock were exchanged, compared to its average volume of 2,513,565. The company's 50 day moving average is $256.67 and its two-hundred day moving average is $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 $61.21 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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Workday (NASDAQ:WDAY - Get Free Report) last issued its 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 analysts' expectations of $2.18 billion. Equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. BMO Capital Markets increased their price objective on shares of Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a research 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. Finally, The Goldman Sachs Group lifted their price target on Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and an average target price of $300.18.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company's stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 431,145 shares of company stock valued at $108,631,438 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

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.