Lansforsakringar Fondforvaltning AB publ Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 71,313 shares of the software maker's stock, valued at approximately $18,401,000.

A number of other institutional investors have also recently modified their holdings of the business. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in shares of Workday in the fourth quarter valued at approximately $26,000. Avion Wealth boosted its stake in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after acquiring an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new stake in shares of Workday during the fourth quarter worth approximately $35,000. Finally, Rakuten Securities Inc. raised its stake in Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at $26,729,781.44. This trade represents a 39.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares of the company's stock, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 318,793 shares of company stock worth $77,122,102 in the last 90 days. Insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company reduced their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Up 2.4%

WDAY traded up $5.77 during trading hours on Friday, hitting $247.53. 3,490,326 shares of the company's stock were exchanged, compared to its average volume of 2,515,867. The stock has a market cap of $65.84 billion, a price-to-earnings ratio of 41.05, a PEG ratio of 3.55 and a beta of 1.30. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The stock's 50-day moving average is $241.70 and its two-hundred day moving average is $253.71. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. Sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday Profile

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.