ASR Vermogensbeheer N.V. Takes $6.62 Million Position in Workday, Inc. (NASDAQ:WDAY)

Key Points

• ASR Vermogensbeheer N.V. has acquired 28,360 shares of Workday, Inc. valued at approximately $6.62 million, according to a recent 13F filing.
• In the last quarter, several large investors significantly increased their positions in Workday, with 89.81% of the stock now owned by institutional investors.
• Workday reported quarterly earnings of $2.23 EPS, exceeding estimates, and demonstrated a 12.6% revenue increase compared to the same period last year.

ASR Vermogensbeheer N.V. purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,360 shares of the software maker's stock, valued at approximately $6,623,000.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its stake in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in Workday during the first quarter worth $32,000. Financial Management Professionals Inc. grew its holdings in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the period. Pinnacle Bancorp Inc. acquired a new position in Workday during the first quarter worth $40,000. Finally, BankPlus Trust Department acquired a new position in Workday during the first quarter worth $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WDAY shares. DA Davidson upped their price objective on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and set a $235.00 price objective (down previously from $255.00) on shares of Workday in a report on Thursday, July 10th. Loop Capital lowered their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $296.88.

Workday Trading Up 0.5%

NASDAQ WDAY traded up $1.09 during trading hours on Friday, hitting $222.07. 2,386,346 shares of the company's stock were exchanged, compared to its average volume of 2,512,807. The business's 50 day moving average is $237.71 and its 200-day moving average is $245.27. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00. The firm has a market capitalization of $59.29 billion, a P/E ratio of 122.69, a price-to-earnings-growth ratio of 3.34 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted $1.74 earnings per share. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder David A. Duffield sold 73,971 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total value of $17,653,918.86. Following the transaction, the insider directly owned 102,997 shares in the company, valued at $24,581,264.02. This trade represents a 41.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 in the last three months. Company insiders own 19.31% 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.