Nvwm LLC Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Nvwm LLC significantly increased its stake in Workday, Inc. by 87,425.0%, acquiring an additional 3,497 shares during the first quarter, bringing their total holdings to 3,501 shares valued at $818,000.
• Major institutional investors, including T. Rowe Price and Norges Bank, have made substantial purchases of Workday shares, indicating strong institutional interest with 89.81% of the stock owned by institutional investors.
• Despite varying analyst ratings, Workday's stock currently has a consensus rating of "Moderate Buy" and an average price target of $296.88, following a recent quarter in which the company reported $2.23 EPS.

Nvwm LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 87,425.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,501 shares of the software maker's stock after acquiring an additional 3,497 shares during the quarter. Nvwm LLC's holdings in Workday were worth $818,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Workday by 12.9% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 70,163 shares of the software maker's stock worth $16,385,000 after purchasing an additional 8,000 shares during the period. Phoenix Financial Ltd. acquired a new stake in shares of Workday during the first quarter worth about $273,000. Stevens Capital Management LP grew its holdings in shares of Workday by 41.9% during the first quarter. Stevens Capital Management LP now owns 6,593 shares of the software maker's stock worth $1,540,000 after buying an additional 1,947 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Workday by 4.0% during the first quarter. Equitable Trust Co. now owns 1,257 shares of the software maker's stock worth $294,000 after buying an additional 48 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Workday by 19.2% during the first quarter. Pacer Advisors Inc. now owns 54,400 shares of the software maker's stock worth $12,704,000 after buying an additional 8,760 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research reports. Morgan Stanley set a $255.00 price objective on Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. DA Davidson increased 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. Mizuho decreased their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. KeyCorp decreased their price target 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, JPMorgan Chase & Co. decreased their price target on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average price target of $296.88.

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the transaction, the chief financial officer directly owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 in the last quarter. Insiders own 19.31% of the company's stock.

Workday Trading Down 1.5%

Shares of NASDAQ WDAY traded down $3.70 during trading on Monday, reaching $238.04. The company had a trading volume of 1,539,706 shares, compared to its average volume of 2,263,434. The company's fifty day moving average price is $242.57 and its 200-day moving average price is $246.62. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a market cap of $63.56 billion, a P/E ratio of 131.51, a PEG ratio of 3.65 and a beta of 1.21. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

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