Swedbank AB Sells 4,580 Shares of Workday, Inc. $WDAY

Key Points

• Swedbank AB reduced its stake in Workday, Inc. by 4.7%, owning 92,949 shares valued at approximately $21.7 million after selling 4,580 shares during the 1st quarter.
• Recent analysts' reports reflect mixed outlooks, with Barclays lowering their price target to $298, while Royal Bank of Canada maintained an "outperform" rating with a target of $340.
• Workday's latest earnings exceeded expectations, reporting $2.21 EPS and $2.35 billion in revenue, indicating a growth of 12.6% compared to the previous year.

Swedbank AB lessened its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 92,949 shares of the software maker's stock after selling 4,580 shares during the period. Swedbank AB's holdings in Workday were worth $21,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Workday by 5.0% during the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after purchasing an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Workday by 13.9% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock valued at $265,000 after purchasing an additional 139 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Workday by 33.8% during the first quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after purchasing an additional 8,093 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Workday during the first quarter valued at about $290,000. Finally, D.A. Davidson & CO. grew its position in shares of Workday by 27.8% during the first quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after purchasing an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on Workday from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. Bank of America cut their price objective on Workday from $295.00 to $278.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. DA Davidson raised their price objective on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. UBS Group set a $304.00 price objective on Workday in a research note on Friday, August 22nd. Finally, JMP Securities reissued a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday, August 22nd. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $286.81.

Insider Activity

In other news, major shareholder David A. Duffield sold 72,551 shares of Workday stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the completion of the sale, the insider owned 102,997 shares of the company's stock, valued at approximately $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction that occurred 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 $352,440.96. This trade represents a 80.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,540 shares of company stock valued at $73,169,545. Insiders own 20.00% of the company's stock.

Workday Trading Down 0.3%

Shares of Workday stock traded down $0.64 on Monday, hitting $222.75. 2,391,186 shares of the company traded hands, compared to its average volume of 3,576,763. The stock's 50 day moving average price is $228.91 and its 200-day moving average price is $238.43. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The company has a market cap of $59.47 billion, a PE ratio of 103.13, a PEG ratio of 3.11 and a beta of 1.12.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.12. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. Workday has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.