Huntington National Bank Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Huntington National Bank boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 51.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,709 shares of the software maker’s stock after purchasing an additional 579 shares during the period. Huntington National Bank’s holdings in Workday were worth $441,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in shares of Workday in the 3rd quarter valued at approximately $345,000. Hilltop Holdings Inc. bought a new position in Workday during the 3rd quarter valued at $629,000. Integrated Wealth Concepts LLC grew its holdings in Workday by 8.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,646 shares of the software maker’s stock worth $402,000 after acquiring an additional 130 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Workday by 3.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 86,490 shares of the software maker’s stock worth $21,139,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Workday by 204.0% in the 3rd quarter. Quarry LP now owns 830 shares of the software maker’s stock valued at $203,000 after purchasing an additional 557 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WDAY. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Monday, March 24th. Citigroup dropped their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $300.18.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 432,441 shares of company stock worth $108,901,692. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of WDAY stock opened at $217.14 on Friday. The firm has a market capitalization of $57.76 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 3.55 and a beta of 1.38. The business’s 50-day moving average price is $254.30 and its 200-day moving average price is $254.04. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

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.