Nykredit A S Invests $10.34 Million in Workday, Inc. $WDAY

Key Points

• Nykredit A/S purchased 84,468 Workday shares in the second quarter, valued at approximately $10.34 million. Institutional investors collectively own 89.81% of the company.
• Workday reported quarterly EPS of $2.75, exceeding the $2.61 consensus estimate, while revenue rose 12.8% year over year to $2.65 billion.
• Analyst sentiment remains mixed: Workday has a consensus “Hold” rating and an average price target of $206.34, despite several analysts recently raising their targets.

Nykredit A S bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 84,468 shares of the software maker's stock, valued at approximately $10,341,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. Auto Owners Insurance Co raised its stake in shares of Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the period. State Street Corp grew its position in Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker's stock valued at $2,098,552,000 after buying an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock worth $1,406,463,000 after buying an additional 1,882,391 shares during the last quarter. Geode Capital Management LLC raised its position in Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker's stock worth $1,089,970,000 after acquiring an additional 75,922 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Workday by 101.4% in the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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, insider Robert Enslin sold 5,374 shares of the firm's stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares of the company's stock, valued at approximately $32,304,368.10. The trade was a 2.19% 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. Over the last ninety days, insiders sold 862,481 shares of company stock worth $116,785,581. 18.64% of the stock is owned by company insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $195.79 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock has a market cap of $48.36 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The stock has a fifty day moving average of $166.01 and a 200-day moving average of $142.61.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (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 analysts' expectations of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The firm's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS. Equities research analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein raised their price target on shares of Workday from $216.00 to $238.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Piper Sandler increased their price objective on Workday from $145.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, August 28th. TD Cowen dropped their price target on Workday from $220.00 to $210.00 and set a "hold" rating on the stock in a research report on Friday, August 28th. DA Davidson lifted their price objective on Workday from $135.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, August 28th. Finally, Wells Fargo & Company boosted their price objective on Workday from $215.00 to $225.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $206.34.

About Workday

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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