Allspring Global Investments Holdings LLC Has $54.69 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Allspring Global Investments Holdings LLC grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,149 shares of the software maker’s stock after buying an additional 56,230 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Workday worth $54,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in shares of Workday during the fourth quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in Workday during the third quarter worth about $26,000. Meeder Asset Management Inc. boosted its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. True Wealth Design LLC boosted its holdings in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. Finally, New Millennium Group LLC boosted its holdings in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last quarter. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WDAY shares. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Thursday, February 6th. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a report on Tuesday, December 3rd. Loop Capital cut their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Finally, Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Workday Stock Performance

Workday stock opened at $260.13 on Friday. The firm’s 50 day simple moving average is $262.35 and its 200 day simple moving average is $251.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $69.19 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

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.