KLP Kapitalforvaltning AS Invests $25.85 Million in Workday, Inc. (NASDAQ:WDAY)

KLP Kapitalforvaltning AS acquired a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, Holdings Channel reports. The firm acquired 100,184 shares of the software maker’s stock, valued at approximately $25,850,000.

A number of other hedge funds have also recently made changes to their positions in WDAY. Roxbury Financial LLC purchased a new stake in Workday during the 4th quarter valued at approximately $25,000. Crews Bank & Trust purchased a new position in Workday during the fourth quarter valued at $26,000. Avion Wealth boosted its holdings in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in shares of Workday during the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC lifted its position in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.4 %

Shares of Workday stock opened at $249.49 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The firm’s 50 day moving average price is $256.76 and its 200-day moving average price is $255.11. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.36 billion, a P/E ratio of 41.37, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the transaction, the insider now owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 473,001 shares of company stock worth $120,614,400 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company boosted their target price on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

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.