Skandinaviska Enskilda Banken AB publ Purchases 8,000 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Workday, Inc. by 12.9%, acquiring an additional 8,000 shares during the first quarter, raising its total holdings to 70,163 shares worth approximately $16.4 million.
• For the latest quarter, Workday reported $2.23 earnings per share (EPS), outperforming analysts' expectations of $2.01, with revenue increasing by 12.6% year-over-year.
• Recent analysis shows that 89.81% of Workday’s stock is held by hedge funds and institutional investors, indicating significant institutional interest in the company.

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,163 shares of the software maker's stock after buying an additional 8,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Workday were worth $16,385,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. bought a new stake in shares of Workday during the fourth quarter worth approximately $658,735,000. Norges Bank bought a new stake in shares of Workday during the fourth quarter worth approximately $645,710,000. Geode Capital Management LLC boosted its holdings in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Workday by 102.6% during the fourth quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock worth $478,846,000 after acquiring an additional 939,955 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 0.2%

NASDAQ WDAY traded up $0.52 on Wednesday, reaching $240.15. The company had a trading volume of 315,455 shares, compared to its average volume of 2,247,036. The firm has a market cap of $64.12 billion, a price-to-earnings ratio of 132.67, a P/E/G ratio of 3.60 and a beta of 1.21. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The business has a 50 day moving average of $241.18 and a two-hundred day moving average of $246.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during 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%. Workday's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 earnings per share. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Citigroup cut Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Morgan Stanley set a $255.00 price target on Workday and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Finally, Mizuho cut their price target on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Workday has an average rating of "Moderate Buy" and a consensus price target of $296.88.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the sale, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This trade represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

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.