112,110 Shares in Workday, Inc. (NASDAQ:WDAY) Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 112,110 shares of the software maker’s stock, valued at approximately $28,928,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Janus Henderson Group PLC increased its position in Workday by 10.7% in 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 buying an additional 480,459 shares during the period. State Street Corp increased its position in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC increased its position in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the period. The Manufacturers Life Insurance Company increased its position in Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after buying an additional 75,747 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Price Performance

Workday stock opened at $258.05 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $68.64 billion, a P/E ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The business’s fifty day moving average is $262.30 and its two-hundred day moving average is $251.24. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

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

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on WDAY. Morgan Stanley lifted their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Mizuho lifted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Barclays dropped their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $292.43.

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.