Truist Financial Corp Has $23.74 Million Position in Workday, Inc. (NASDAQ:WDAY)

Truist Financial Corp decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 27.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,995 shares of the software maker’s stock after selling 32,450 shares during the quarter. Truist Financial Corp’s holdings in Workday were worth $23,740,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its stake in shares of Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the period. Exchange Traded Concepts LLC raised 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 last quarter. CVA Family Office LLC acquired a new position in Workday during the 4th quarter valued at about $33,000. VisionPoint Advisory Group LLC boosted its stake in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $29,000. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of WDAY opened at $248.77 on Tuesday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28. The stock has a market capitalization of $65.68 billion, a P/E ratio of 48.30, a P/E/G ratio of 6.27 and a beta of 1.32. The company has a 50 day moving average of $272.42 and a 200-day moving average of $264.59.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts forecast that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In related news, Director George J. Still, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the sale, the director now owns 105,000 shares in the company, valued at $28,404,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at $28,404,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas A. Robinson sold 411 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the sale, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 in the last quarter. Corporate insiders own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective on shares of Workday in a report on Monday, February 26th. Wells Fargo & Company increased their target price on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. BMO Capital Markets boosted their target price on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Finally, Citigroup increased their price target on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

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.