Andra AP fonden Grows Stake in Workday, Inc. $WDAY

Key Points

• Andra AP fonden increased its Workday stake by 22.3% in Q1, buying 17,500 additional shares and bringing its total to 96,070 shares valued at about $12.5 million.
• Workday reported better-than-expected quarterly results, with EPS of $2.66 versus $2.51 expected and revenue of $2.54 billion, up 13.5% year over year.
• Despite the earnings beat, the stock was down 4.1% and analysts remain mixed overall, with a consensus rating of Moderate Buy and a target price of $179.80.

Andra AP fonden grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,070 shares of the software maker's stock after purchasing an additional 17,500 shares during the quarter. Andra AP fonden's holdings in Workday were worth $12,481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Auto Owners Insurance Co increased its holdings in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. raised its holdings in Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the last quarter. Norges Bank bought a new position in Workday during the 4th quarter valued at $448,804,000. Finally, First Eagle Investment Management LLC grew its holdings in Workday by 87.8% during the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker's stock worth $931,882,000 after acquiring an additional 2,028,085 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Trading Down 4.1%

Shares of WDAY stock opened at $141.17 on Wednesday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The firm has a market capitalization of $34.87 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. The stock has a fifty day moving average of $132.42 and a two-hundred day moving average of $143.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the company earned $2.23 EPS. Workday's quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 5.35 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC lowered their price objective on Workday from $300.00 to $180.00 and set a "buy" rating for the company in a report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Workday in a report on Wednesday, June 17th. Jefferies Financial Group lifted their target price on Workday from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Workday in a research note on Friday, May 22nd. Finally, TD Cowen reaffirmed a "hold" rating on shares of Workday in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus target price of $179.80.

Insiders Place Their Bets

In other Workday news, insider Robert Enslin sold 5,374 shares of the company's stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider owned 239,469 shares of the company's stock, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the sale, the insider owned 105,049 shares of the company's stock, valued at $14,364,400.26. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by insiders.

Workday Company 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.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.