Union Bancaire Privee UBP SA Acquires Shares of 35,732 Workday, Inc. (NASDAQ:WDAY)

Union Bancaire Privee UBP SA bought a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,732 shares of the software maker’s stock, valued at approximately $8,984,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP purchased a new position in shares of Workday in the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd raised its position in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Citigroup decreased their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Workday Price Performance

Shares of WDAY opened at $258.28 on Monday. The company has a market capitalization of $68.70 billion, a P/E ratio of 42.83, a P/E/G ratio of 4.58 and a beta of 1.34. The business’s 50-day moving average is $260.91 and its two-hundred day moving average is $247.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by corporate insiders.

Workday Company 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.