Swedbank AB Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Swedbank AB boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,529 shares of the software maker’s stock after purchasing an additional 14,682 shares during the quarter. Swedbank AB’s holdings in Workday were worth $25,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp raised its stake in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Workday by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 2.0 %

NASDAQ:WDAY opened at $260.07 on Friday. The company has a market capitalization of $69.18 billion, a PE ratio of 43.13, a P/E/G ratio of 4.58 and a beta of 1.34. The firm’s 50-day moving average price is $261.34 and its 200-day moving average price is $248.60. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. On average, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have commented on WDAY. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Mizuho lifted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.25.

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.