Tredje AP fonden Acquires 4,650 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Tredje AP fonden increased its stake in Workday, Inc. by 2.9%, acquiring an additional 4,650 shares, bringing its total ownership to 162,550 shares valued at approximately $37.96 million.
• Insider transactions revealed that Director George J. Still, Jr. sold 7,500 shares and CEO Carl M. Eschenbach sold 6,250 shares, indicating significant reductions in their ownership positions.
• Workday reported strong earnings results with $2.23 earnings per share for the quarter, exceeding estimates, and a revenue of $2.24 billion, reflecting a 12.6% increase compared to the previous year.

Tredje AP fonden increased its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,550 shares of the software maker's stock after purchasing an additional 4,650 shares during the period. Tredje AP fonden owned approximately 0.06% of Workday worth $37,960,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its position in Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in Workday in the first quarter valued at about $32,000. Financial Management Professionals Inc. grew its position in Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in Workday in the first quarter valued at about $40,000. Finally, BankPlus Trust Department bought a new position in Workday in the first quarter valued at about $40,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the sale, the chief accounting officer owned 42,977 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the sale, the chief financial officer owned 178,418 shares of the company's stock, valued at $42,747,168.62. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 in the last three months. Insiders own 19.31% of the company's stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. DA Davidson boosted their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Loop Capital reduced their price target on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Piper Sandler restated an "underweight" rating and set a $235.00 price target (down from $255.00) on shares of Workday in a report on Thursday, July 10th. Finally, Oppenheimer reduced their price target on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Down 3.1%

Shares of NASDAQ:WDAY traded down $7.16 during trading on Friday, reaching $222.22. 4,088,210 shares of the stock were exchanged, compared to its average volume of 2,235,786. 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, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The stock has a fifty day moving average of $239.71 and a two-hundred day moving average of $246.31. The firm has a market cap of $59.33 billion, a price-to-earnings ratio of 122.77, a price-to-earnings-growth ratio of 3.47 and a beta of 1.24.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. Workday's revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.