S Bank Fund Management Ltd Purchases 14,981 Shares of Workday, Inc. $WDAY

Key Points

• S Bank Fund Management Ltd raised its Workday stake by 1,576.9% in Q4, buying 14,981 shares to hold 15,931 shares valued at about $3.42 million.
• Workday beat Q4 estimates with $2.47 EPS (vs. $2.32 expected) and $2.53B in revenue (+14.5% YoY); the stock has a market cap of $33.12 billion and a P/E near 50.
• Institutional ownership is high at 89.8%, while insiders have sold roughly 989,814 shares (~$131.6M) in the past 90 days and analysts carry a "Moderate Buy" consensus with an average target of $199.71.

S Bank Fund Management Ltd boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,576.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,931 shares of the software maker's stock after purchasing an additional 14,981 shares during the period. S Bank Fund Management Ltd's holdings in Workday were worth $3,422,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Workday by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after buying an additional 3,210,232 shares during the last quarter. State Street Corp grew its holdings in Workday by 0.8% during the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker's stock worth $2,328,959,000 after acquiring an additional 74,052 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock valued at $1,406,463,000 after acquiring an additional 1,882,391 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Workday by 41.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker's stock valued at $905,530,000 after acquiring an additional 1,103,421 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Workday by 13.1% during the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker's stock valued at $774,478,000 after acquiring an additional 371,561 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of NASDAQ WDAY opened at $128.88 on Wednesday. The company has a market capitalization of $33.12 billion, a PE ratio of 49.95, a P/E/G ratio of 1.24 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $276.00. The firm has a fifty day simple moving average of $129.83 and a 200 day simple moving average of $179.21.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 5.11 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 25th. Evercore lowered Workday from an "outperform" rating to an "in-line" rating and set a $160.00 target price for the company. in a research report on Wednesday, February 25th. Piper Sandler cut their target price on Workday from $200.00 to $135.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Robert W. Baird set a $195.00 price target on Workday in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group cut Workday from a "buy" rating to a "hold" rating and decreased their price target for the company from $325.00 to $150.00 in a research note on Monday, February 23rd. Nineteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $199.71.

Insider Buying and Selling at Workday

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider directly owned 165,074 shares in the company, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, CAO Mark S. Garfield sold 1,585 shares of the business's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the transaction, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. This trade represents a 4.80% 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. Insiders have sold a total of 989,814 shares of company stock valued at $131,576,291 over the last ninety days. Insiders own 20.00% of the company's stock.

Workday Profile

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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