Charles Schwab Investment Management Inc. Purchases 82,261 Shares of Workday, Inc. (NASDAQ:WDAY)

Charles Schwab Investment Management Inc. grew its position in Workday, Inc. (NASDAQ:WDAY) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,442,263 shares of the software maker’s stock after purchasing an additional 82,261 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of Workday worth $336,812,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WDAY. Cornerstone Planning Group LLC increased its position in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after acquiring an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the first quarter valued at about $32,000. Financial Management Professionals Inc. increased its position in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock valued at $36,000 after acquiring an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday in the first quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Workday in the first quarter valued at about $40,000. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Up 0.5%

Shares of WDAY stock opened at $222.07 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $59.29 billion, a P/E ratio of 122.69, a price-to-earnings-growth ratio of 3.34 and a beta of 1.24. The stock has a 50 day simple moving average of $237.71 and a 200 day simple moving average of $245.27. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 earnings per share. On average, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider owned 102,997 shares of the company’s stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 in the last quarter. Company insiders own 19.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Westpark Capital lifted their target price on Workday from $315.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Friday, May 23rd. Stifel Nicolaus lowered their target price on Workday from $310.00 to $275.00 and set a “hold” rating on the stock in a research report on Friday, May 23rd. Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Friday, May 23rd. Finally, Citigroup downgraded Workday from a “neutral” rating to a “mixed” rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $296.88.

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.