Workday, Inc. $WDAY Shares Purchased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co lifted its position in Workday, Inc. (NASDAQ:WDAY) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,499 shares of the software maker’s stock after acquiring an additional 4,330 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Workday were worth $10,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Eagle Investment Management LLC acquired a new stake in shares of Workday in the third quarter worth approximately $556,252,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Workday in the third quarter worth approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday in the third quarter worth approximately $2,000,000. Rakuten Investment Management Inc. acquired a new stake in shares of Workday in the third quarter worth approximately $124,718,000. Finally, EULAV Asset Management boosted its stake in shares of Workday by 69.4% in the third quarter. EULAV Asset Management now owns 61,000 shares of the software maker’s stock worth $14,685,000 after acquiring an additional 25,000 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 989,814 shares of company stock worth $131,576,291. Corporate insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of recent research reports. Loop Capital set a $210.00 price objective on Workday in a research note on Thursday, March 12th. Wells Fargo & Company lowered their price objective on Workday from $255.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of Workday in a research note on Monday, February 23rd. BTIG Research lowered their price objective on Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Robert W. Baird set a $195.00 price objective on Workday in a research note on Tuesday, February 24th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Workday Stock Performance

Shares of Workday stock opened at $128.88 on Wednesday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $276.00. The business’s fifty day simple moving average is $129.83 and its 200-day simple moving average is $179.21. The firm has a market cap of $33.12 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the company posted $1.92 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 5.11 earnings per share for the current year.

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.