Workday, Inc. $WDAY Stock Holdings Cut by Andra AP fonden

Key Points

• Andra AP fonden cut its Workday stake by 62.3% in the second quarter, selling 59,827 shares and retaining 36,243 shares valued at approximately $4.4 million. Institutional investors collectively own 89.81% of Workday’s stock.
• Workday exceeded quarterly expectations, reporting adjusted EPS of $2.75 versus the $2.61 consensus estimate and revenue of $2.65 billion, up 12.8% year over year.
• Analyst sentiment is mixed: 20 analysts rate the stock Buy, 18 Hold and two Sell, resulting in a consensus Hold rating and an average price target of $206.34.

Andra AP fonden decreased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 62.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 36,243 shares of the software maker's stock after selling 59,827 shares during the period. Andra AP fonden's holdings in Workday were worth $4,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its stake in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock valued at $2,197,332,000 after acquiring an additional 10,190,516 shares in the last quarter. Geode Capital Management LLC increased its stake in Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker's stock valued at $1,089,970,000 after buying an additional 75,922 shares during the period. Janus Henderson Group PLC lifted its position in Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after buying an additional 2,525,821 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Workday by 8.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker's stock valued at $364,217,000 after acquiring an additional 223,493 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Workday during the 4th quarter valued at $448,804,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 918 shares of the business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $142.19, for a total transaction of $130,530.42. Following the completion of the transaction, the chief accounting officer owned 73,718 shares of the company's stock, valued at $10,481,962.42. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the company's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the sale, the insider owned 266,388 shares of the company's stock, valued at $38,258,644.56. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 814,510 shares of company stock valued at $136,936,521 in the last quarter. 18.64% of the stock is currently owned by corporate insiders.

Workday Price Performance

NASDAQ WDAY opened at $192.38 on Thursday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock's 50-day moving average is $180.15 and its two-hundred day moving average is $147.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $46.36 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the company posted $2.21 EPS. The firm's revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. BTIG Research lowered Workday from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Robert W. Baird upped their target price on Workday from $190.00 to $215.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. UBS Group set a $230.00 price target on Workday in a research note on Friday, August 28th. Summit Redstone set a $275.00 price target on Workday in a report on Wednesday, May 27th. Finally, Lake Street Capital set a $205.00 price target on Workday in a report on Friday, August 14th. Twenty equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $206.34.

About Workday

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.

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