Nykredit A S Acquires Shares of 75,522 Workday, Inc. $WDAY

Key Points

• Nykredit A/S acquired 75,522 Workday shares during the second quarter, valued at approximately $9.25 million. Institutional investors and hedge funds collectively own 89.81% of the company.
• Workday insiders sold shares recently, including CFO Zane Rowe’s $862,200 sale and insider Robert Enslin’s $724,953 sale; both transactions were conducted under Rule 10b5-1 plans to cover tax obligations.
• Workday exceeded quarterly expectations with adjusted earnings of $2.75 per share and revenue of $2.65 billion, while revenue grew 12.8% year over year. Analysts’ consensus rating remains Hold, with an average price target of $206.34.

Nykredit A S purchased a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 75,522 shares of the software maker's stock, valued at approximately $9,245,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake in Workday by 10.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,004 shares of the software maker's stock worth $123,000 after purchasing an additional 96 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of Workday by 5.6% in the second quarter. 180 Wealth Advisors LLC now owns 1,960 shares of the software maker's stock worth $240,000 after purchasing an additional 104 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Workday by 26.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker's stock valued at $72,000 after buying an additional 123 shares in the last quarter. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter valued at approximately $27,000. Finally, Ashton Thomas Securities LLC lifted its position in shares of Workday by 6.2% during the 1st quarter. Ashton Thomas Securities LLC now owns 2,206 shares of the software maker's stock worth $287,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In related news, insider Robert Enslin sold 5,374 shares of the company's stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. This represents a 2.19% 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 link. 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, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 827,921 shares of company stock worth $131,045,334 over the last 90 days. Corporate insiders own 18.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WDAY. UBS Group set a $230.00 price objective on shares of Workday in a research note on Friday, August 28th. Piper Sandler upped their target price on Workday from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 28th. BMO Capital Markets upped their price target on shares of Workday from $182.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Capital One Financial set a $219.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a research report on Friday, August 28th. Finally, Barclays upped their price objective on shares of Workday from $200.00 to $224.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Twenty research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $206.34.

Workday Stock Performance

Shares of WDAY stock opened at $193.87 on Monday. The company has a market capitalization of $46.72 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 1.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $177.23 and a two-hundred day simple moving average of $146.42. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.Workday's quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. Research analysts anticipate that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.

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