Bank of America Corp DE Decreases Stock Holdings in Workday, Inc. $WDAY

Bank of America Corp DE reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 0.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,762,565 shares of the software maker’s stock after selling 4,169 shares during the quarter. Bank of America Corp DE’s holdings in Workday were worth $488,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oddo BHF Asset Management Sas raised its stake in Workday by 5.7% during the first quarter. Oddo BHF Asset Management Sas now owns 7,019 shares of the software maker’s stock valued at $912,000 after purchasing an additional 378 shares in the last quarter. Ashton Thomas Securities LLC lifted its position in Workday by 6.2% during the first quarter. Ashton Thomas Securities LLC now owns 2,206 shares of the software maker’s stock valued at $287,000 after purchasing an additional 128 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Workday by 18.0% in the 1st quarter. Arkadios Wealth Advisors now owns 5,335 shares of the software maker’s stock worth $693,000 after buying an additional 812 shares in the last quarter. South Dakota Investment Council purchased a new position in shares of Workday in the 1st quarter worth $948,000. Finally, Strategic Planning Inc. bought a new stake in shares of Workday in the 1st quarter worth about $5,889,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,364,400.26. This trade represents a 50.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 875,020 shares of company stock valued at $113,938,503. Company insiders own 18.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on WDAY. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. BTIG Research restated a “buy” rating and set a $175.00 price objective on shares of Workday in a research report on Monday, May 18th. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Workday in a research note on Friday, May 22nd. Finally, TD Cowen reiterated a “hold” rating on shares of Workday in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.80.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $160.34 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a market capitalization of $39.60 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.71 and a beta of 1.11. The firm’s 50-day moving average is $136.31 and its 200 day moving average is $140.07.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 5.38 EPS for the current year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.