Principal Financial Group Inc. Has $104.04 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Principal Financial Group Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2,166.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,224 shares of the software maker's stock after purchasing an additional 385,430 shares during the period. Principal Financial Group Inc. owned about 0.15% of Workday worth $104,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marcum Wealth LLC boosted its stake in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC grew its holdings in Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after purchasing an additional 43 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock worth $1,243,000 after buying an additional 43 shares during the last quarter. Finally, Fulton Bank N.A. increased its stake in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker's stock worth $954,000 after acquiring an additional 48 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WDAY. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their target price on Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They issued a "sector outperform" rating and a $340.00 price objective for the company. The Goldman Sachs Group lifted their price target on Workday from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Guggenheim raised shares of Workday from a "sell" rating to a "neutral" rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $291.11.

Workday Trading Down 2.0 %

Shares of Workday stock traded down $5.24 on Friday, reaching $256.39. 2,415,239 shares of the company were exchanged, compared to its average volume of 2,092,095. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of 42.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $261.10 and a 200-day moving average price of $252.54.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday 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 transaction, the insider now owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate insiders.

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.