Fifth Third Bancorp Increases Holdings in Workday, Inc. $WDAY

Fifth Third Bancorp lifted its position in Workday, Inc. (NASDAQ:WDAY) by 565.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,523 shares of the software maker’s stock after purchasing an additional 25,933 shares during the quarter. Fifth Third Bancorp’s holdings in Workday were worth $3,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC boosted its stake in Workday by 67.2% during the first quarter. Darwin Wealth Management LLC now owns 15,216 shares of the software maker’s stock worth $1,977,000 after buying an additional 6,118 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Workday in the 1st quarter valued at approximately $239,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Workday by 25.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,375 shares of the software maker’s stock worth $1,088,000 after acquiring an additional 1,675 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Workday by 25.3% in the 1st quarter. Hsbc Holdings PLC now owns 710,309 shares of the software maker’s stock worth $92,374,000 after acquiring an additional 143,274 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its position in shares of Workday by 11.2% during the 1st quarter. Waterfront Wealth Inc. now owns 8,131 shares of the software maker’s stock worth $1,056,000 after purchasing an additional 819 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $14,364,400.26. The trade was a 50.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider directly owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 875,020 shares of company stock worth $113,938,503 over the last ninety days. Insiders own 18.64% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of several research reports. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. The Goldman Sachs Group cut their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Barclays raised Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. Needham & Company LLC dropped their target price on Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, BTIG Research restated a “buy” rating and issued a $175.00 price target on shares of Workday in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Workday Stock Performance

NASDAQ:WDAY opened at $144.78 on Friday. The firm’s fifty day simple moving average is $131.46 and its 200-day simple moving average is $144.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market cap of $35.76 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the business posted $2.23 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that Workday, Inc. will post 5.34 earnings per share for the current fiscal 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.