Workday, Inc. $WDAY Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,155 shares of the software maker’s stock after purchasing an additional 16,456 shares during the period. Handelsbanken Fonder AB’s holdings in Workday were worth $17,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Profund Advisors LLC increased its position in Workday by 0.8% during the fourth quarter. Profund Advisors LLC now owns 28,072 shares of the software maker’s stock worth $6,029,000 after purchasing an additional 220 shares during the last quarter. ProShare Advisors LLC boosted its stake in Workday by 34.5% during the fourth quarter. ProShare Advisors LLC now owns 384,198 shares of the software maker’s stock worth $82,518,000 after buying an additional 98,607 shares during the period. Ironwood Investment Counsel LLC boosted its stake in Workday by 15.6% during the fourth quarter. Ironwood Investment Counsel LLC now owns 29,222 shares of the software maker’s stock worth $6,276,000 after buying an additional 3,953 shares during the period. Duncan Williams Asset Management LLC boosted its stake in Workday by 14.9% during the fourth quarter. Duncan Williams Asset Management LLC now owns 4,338 shares of the software maker’s stock worth $932,000 after buying an additional 563 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in Workday by 101.7% during the fourth quarter. TD Private Client Wealth LLC now owns 2,114 shares of the software maker’s stock worth $454,000 after buying an additional 1,066 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Workday from $170.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Citigroup lowered shares of Workday from a “market perform” rating to a “negative” rating in a research note on Friday, May 15th. Robert W. Baird set a $195.00 target price on shares of Workday in a research note on Tuesday, February 24th. Guggenheim lowered their target price on shares of Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.42.

Insider Activity at Workday

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the transaction, the insider owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 989,814 shares of company stock valued at $131,576,291. Insiders own 18.64% of the company’s stock.

Workday Trading Down 2.1%

NASDAQ WDAY opened at $126.61 on Thursday. The firm has a 50 day simple moving average of $126.51 and a 200-day simple moving average of $170.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. Workday, Inc. has a one year low of $110.36 and a one year high of $274.11. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 1.26 and a beta of 1.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Workday, Inc. will post 5.11 EPS for the current fiscal year.

Workday Profile

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.