Swiss National Bank Sells 29,100 Shares of Workday, Inc. $WDAY

Swiss National Bank lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 622,600 shares of the software maker’s stock after selling 29,100 shares during the quarter. Swiss National Bank owned 0.23% of Workday worth $149,878,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after purchasing an additional 2,792 shares during the period. Empowered Funds LLC raised its holdings in shares of Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after buying an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Workday during the 2nd quarter worth approximately $281,000. Finally, Golden State Wealth Management LLC boosted its stake in Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WDAY shares. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of Workday in a research note on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Robert W. Baird set a $195.00 price objective on shares of Workday in a research note on Tuesday, February 24th. Finally, Rosenblatt Securities dropped their price objective on shares of Workday from $180.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $205.19.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $148.14 on Tuesday. The business has a fifty day moving average of $170.76 and a 200-day moving average of $208.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The firm has a market cap of $38.96 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.00, for a total transaction of $656,250.00. Following the transaction, the chief executive officer directly owned 17,097 shares in the company, valued at approximately $3,590,370. This represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $134.40, for a total transaction of $14,448,000.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $14,118,585.60. This trade represents a 50.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 503,296 shares of company stock valued at $91,729,216. Insiders own 20.00% of the company’s stock.

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.