Livforsakringsbolaget Skandia Omsesidigt Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 75.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,587 shares of the software maker’s stock after selling 4,850 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Workday were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP grew its position in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the last quarter. KBC Group NV lifted its stake in shares of Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after acquiring an additional 506,812 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Workday during the third quarter worth about $78,003,000. Finally, Lindbrook Capital LLC raised its holdings in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after purchasing an additional 284,266 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Loop Capital reduced their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada raised their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $292.43.

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Workday Trading Down 2.1 %

Shares of Workday stock opened at $271.89 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The business’s fifty day moving average is $261.64 and its two-hundred day moving average is $249.91. 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 firm has a market cap of $72.32 billion, a PE ratio of 45.09, a P/E/G ratio of 4.73 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.