Principal Financial Group Inc. Sells 2,658 Shares of Workday, Inc. (NASDAQ:WDAY)

Principal Financial Group Inc. cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 23.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,596 shares of the software maker’s stock after selling 2,658 shares during the period. Principal Financial Group Inc.’s holdings in Workday were worth $2,345,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in WDAY. Beacon Capital Management LLC increased its stake in shares of 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 last quarter. Exchange Traded Concepts LLC raised its stake in Workday by 1,750.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Sound Income Strategies LLC lifted its position in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. CVA Family Office LLC bought a new position in Workday during the fourth quarter worth $33,000. Finally, VisionPoint Advisory Group LLC grew its stake in 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 buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the transaction, the insider now owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 65,221 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,633,065.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the transaction, the insider now directly owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 462,830 shares of company stock worth $106,891,868. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of Workday stock traded up $2.59 on Friday, reaching $228.14. The stock had a trading volume of 511,067 shares, compared to its average volume of 2,197,147. The business’s 50 day moving average is $230.14 and its two-hundred day moving average is $262.04. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $60.46 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 5.68 and a beta of 1.35. Workday, Inc. has a 1 year low of $202.01 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. As a group, research analysts anticipate that Workday, Inc. will post 2.12 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDAY. Loop Capital reduced their price objective on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a report on Friday, May 24th. Piper Sandler reduced their price objective on shares of Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Robert W. Baird lowered their price target on Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, May 24th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. Finally, Canaccord Genuity Group cut their price objective on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

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.