National Pension Service Buys 56,551 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• The National Pension Service increased its stake in Workday, Inc. by 8.3%, now owning 740,425 shares valued at approximately $172.9 million.
• Insider transactions revealed that major shareholder David A. Duffield sold 72,551 shares for around $17.38 million, reducing his ownership by 41.33%.
• Wall Street analysts have mixed ratings on Workday, with an average target price of $294.31 and several analysts lowering their price objectives recently.

National Pension Service raised its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 740,425 shares of the software maker's stock after purchasing an additional 56,551 shares during the period. National Pension Service owned 0.28% of Workday worth $172,911,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WDAY. Private Trust Co. NA raised its position in shares of Workday by 15.2% during the 1st quarter. Private Trust Co. NA now owns 318 shares of the software maker's stock valued at $74,000 after purchasing an additional 42 shares during the period. CreativeOne Wealth LLC raised its position in shares of Workday by 1.5% during the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock valued at $745,000 after purchasing an additional 43 shares during the period. Salvus Wealth Management LLC raised its position in shares of Workday by 2.8% during the 1st quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker's stock valued at $387,000 after purchasing an additional 45 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Workday by 15.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 353 shares of the software maker's stock valued at $82,000 after purchasing an additional 46 shares during the period. Finally, AE Wealth Management LLC boosted its stake in shares of Workday by 0.4% in the first quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker's stock worth $2,778,000 after acquiring an additional 46 shares during the period. Institutional investors own 89.81% of the company's stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider directly owned 102,997 shares in the company, valued at approximately $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,005 shares of company stock valued at $79,203,523. Company insiders own 19.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WDAY shares. Stifel Nicolaus dropped their price objective on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Oppenheimer dropped their price objective on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on Workday and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. KeyCorp dropped their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $294.31.

Workday Trading Up 4.0%

Shares of WDAY stock opened at $223.09 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The stock's 50 day simple moving average is $235.77 and its two-hundred day simple moving average is $244.48. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The company has a market cap of $59.56 billion, a PE ratio of 123.25, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly 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 company's revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company 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.

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