Workday, Inc. (NASDAQ:WDAY) Stock Holdings Lowered by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,700 shares of the software maker’s stock after selling 2,100 shares during the quarter. Forsta AP Fonden’s holdings in Workday were worth $16,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC raised its holdings in shares of Workday by 17.6% in the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Workday by 9.9% in the 4th quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after purchasing an additional 1,933 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after purchasing an additional 3,123 shares in the last quarter. Bornite Capital Management LP bought a new stake in shares of Workday in the 4th quarter worth approximately $34,508,000. Finally, Nordea Investment Management AB raised its holdings in shares of Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

NASDAQ:WDAY opened at $251.19 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $66.57 billion, a PE ratio of 45.26, a PEG ratio of 5.49 and a beta of 1.35. The firm’s fifty day simple moving average is $234.83 and its 200 day simple moving average is $244.14. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the sale, the insider now directly owns 92,014 shares in the company, valued at approximately $20,856,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now directly owns 92,014 shares in the company, valued at approximately $20,856,813.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the sale, the insider now owns 730,000 shares in the company, valued at $159,563,400. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock worth $107,992,034 in the last ninety days. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen dropped their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Morgan Stanley cut their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. UBS Group cut their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group cut their price target on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Loop Capital boosted their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $288.15.

Workday Profile

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.