KBC Group NV Has $10.39 Million Stock Holdings in Workday, Inc. $WDAY

Key Points

• KBC Group NV cut its stake in Workday by 40.2% in Q4, selling 32,541 shares and leaving 48,375 shares valued at about $10.39 million.
• Workday beat Q4 estimates with $2.47 EPS (vs. $2.32 est.) and $2.53 billion in revenue (up 14.5% YoY), yet the stock trades at $123.83 versus an average analyst target of $199.71, reflecting mixed analyst views and recent downward price-target revisions.
• Significant insider selling has occurred recently — including sales by Gerrit Kazmaier and founder David Duffield — with 989,814 shares sold in the past 90 days worth roughly $131.6 million; insiders now own about 19.31% of the company.

KBC Group NV cut its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,375 shares of the software maker's stock after selling 32,541 shares during the period. KBC Group NV's holdings in Workday were worth $10,390,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in Workday in the second quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in Workday in the third quarter worth $30,000. eCIO Inc. acquired a new stake in Workday in the fourth quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Workday in the fourth quarter worth $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus set a $175.00 target price on shares of Workday in a report on Monday, February 9th. Raymond James Financial reissued a "market perform" rating on shares of Workday in a research report on Monday, February 9th. Barclays lowered their price objective on shares of Workday from $230.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of Workday in a research report on Monday, February 23rd. Finally, UBS Group lowered their price objective on shares of Workday from $170.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.71.

Workday Stock Down 0.8%

Workday stock opened at $123.83 on Friday. The company has a market cap of $31.82 billion, a P/E ratio of 48.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $276.00. The company has a fifty day simple moving average of $134.19 and a 200 day simple moving average of $187.46. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm's stock in a transaction 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 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 firm's stock in a transaction 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. This trade represents 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 ninety days, insiders sold 989,814 shares of company stock valued at $131,576,291. 19.31% of the stock is 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.

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