Swedbank AB Has $7.90 Million Stock Holdings in Workday, Inc. $WDAY

Swedbank AB trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 33.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,824 shares of the software maker’s stock after selling 30,160 shares during the quarter. Swedbank AB’s holdings in Workday were worth $7,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Workday in the 4th quarter valued at about $448,804,000. Harvest Fund Management Co. Ltd boosted its position in shares of Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after buying an additional 15,903 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after buying an additional 88,384 shares during the period. Morningstar Investment Management LLC grew its holdings in shares of Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares in the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of Workday during the fourth quarter worth about $2,357,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 0.4%

WDAY stock traded up $0.61 during mid-day trading on Friday, reaching $138.95. The company had a trading volume of 1,907,705 shares, compared to its average volume of 4,840,891. The company has a market capitalization of $34.32 billion, a price-to-earnings ratio of 43.42, a PEG ratio of 1.48 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a 50 day simple moving average of $129.78 and a two-hundred day simple moving average of $147.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $2.23 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the topic of several research reports. Bank of America started coverage on Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Piper Sandler raised their price target on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. Finally, Wells Fargo & Company raised their target price on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Insider Activity

In other Workday news, insider Robert Enslin sold 5,374 shares of the stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares in the company, valued at $38,258,644.56. This 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. Over the last three months, insiders sold 766,602 shares of company stock valued at $99,108,423. 18.64% of the stock is owned by 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.