Workday, Inc. $WDAY Shares Sold by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark cut its Workday stake by 62.4% in the second quarter, selling 22,839 shares and retaining 13,767 shares valued at approximately $1.685 million.
• Institutional ownership remains high at 89.81%, with major investors including Vanguard, Auto Owners Insurance, Janus Henderson and First Eagle increasing their positions.
• Workday reported quarterly revenue of $2.54 billion and EPS of $2.66, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $181.29.

PensionDanmark Pensionsforsikringsaktieselskab trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 62.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,767 shares of the software maker's stock after selling 22,839 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Workday were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co grew its position in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. boosted its stake in Workday by 14.7% during 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 purchasing an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after acquiring an additional 2,525,821 shares during the period. Norges Bank bought a new stake in Workday in the fourth quarter worth about $448,804,000. Finally, First Eagle Investment Management LLC lifted its holdings in Workday by 87.8% in the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker's stock valued at $931,882,000 after acquiring an additional 2,028,085 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Workday from $206.00 to $151.00 and set a "neutral" rating on the stock in a report on Tuesday, May 26th. Sanford C. Bernstein restated an "outperform" rating and issued a $216.00 price target on shares of Workday in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Workday in a report on Friday, May 22nd. Wolfe Research reiterated an "outperform" rating and set a $160.00 price objective on shares of Workday in a research report on Friday, May 22nd. Finally, UBS Group raised their price objective on Workday from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $181.29.

Workday Trading Up 2.5%

Shares of NASDAQ:WDAY opened at $184.19 on Tuesday. The firm has a market capitalization of $45.49 billion, a P/E ratio of 57.56, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $140.93 and a two-hundred day moving average of $138.87.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider owned 239,469 shares of the company's stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. 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 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is owned by corporate insiders.

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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