PNC Financial Services Group Inc. Acquires 9,126 Shares of Workday, Inc. (NASDAQ:WDAY)

PNC Financial Services Group Inc. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 55.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,720 shares of the software maker’s stock after acquiring an additional 9,126 shares during the period. PNC Financial Services Group Inc.’s holdings in Workday were worth $7,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Beacon Capital Management LLC increased its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC increased its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the period. CVA Family Office LLC purchased a new position in Workday during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC increased its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Finally, Clear Street Markets LLC purchased a new position in Workday during the 3rd quarter worth $29,000. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Loop Capital lowered their price objective on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. The Goldman Sachs Group lowered their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, May 24th. TheStreet raised Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Robert W. Baird lowered their price objective on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Guggenheim reissued a “sell” rating and issued a $190.00 price objective on shares of Workday in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $283.96.

Workday Stock Up 1.4 %

Shares of NASDAQ:WDAY opened at $212.46 on Tuesday. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The stock has a market cap of $56.30 billion, a P/E ratio of 38.28, a PEG ratio of 6.28 and a beta of 1.33. The business has a fifty day moving average of $240.56 and a two-hundred day moving average of $266.76. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the sale, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,713 shares of company stock valued at $112,547,513. 20.00% of the stock is currently owned by 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.