Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 40.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,685 shares of the software maker’s stock after purchasing an additional 17,144 shares during the period. Handelsbanken Fonder AB’s holdings in Workday were worth $16,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC boosted its position in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. VisionPoint Advisory Group LLC boosted its position in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Clear Street Markets LLC purchased a new stake in Workday during the 3rd quarter worth $29,000. Exchange Traded Concepts LLC boosted its position in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in Workday in the 4th quarter valued at about $33,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,691 shares of company stock valued at $117,731,569. Company insiders own 21.09% of the company’s stock.

Workday Trading Up 1.3 %

Shares of NASDAQ:WDAY opened at $256.82 on Wednesday. The stock has a market capitalization of $67.80 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 6.33 and a beta of 1.32. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50 day moving average price of $276.48 and a 200 day moving average price of $263.66.

Workday (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. On average, research analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WDAY. KeyCorp upped their price objective on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Mizuho upped their price objective on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Evercore ISI increased their price target on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company increased their price target on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.61.

About Workday

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.