UniSuper Management Pty Ltd Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

UniSuper Management Pty Ltd increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 68.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 92,542 shares of the software maker’s stock after purchasing an additional 37,442 shares during the period. UniSuper Management Pty Ltd’s holdings in Workday were worth $23,879,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Bristlecone Advisors LLC lifted its holdings in shares of Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in 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 during the period. Nordea Investment Management AB lifted its stake in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in Workday in the 4th quarter valued at $369,000. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Workday by 387.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock valued at $86,926,000 after purchasing an additional 282,632 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $250.79 on Thursday. The firm has a market capitalization of $66.71 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 3.55 and a beta of 1.38. The stock has a fifty day moving average of $257.01 and a 200 day moving average of $255.00. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WDAY. Piper Sandler increased their price objective on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Oppenheimer raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. UBS Group boosted their price objective on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $300.36.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 487,145 shares of company stock worth $123,289,438. Company insiders own 20.00% of the company’s stock.

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.