E. Ohman J or Asset Management AB Has $2.16 Million Position in Workday, Inc. $WDAY

E. Ohman J or Asset Management AB lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 94.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,980 shares of the software maker’s stock after selling 140,137 shares during the period. E. Ohman J or Asset Management AB’s holdings in Workday were worth $2,162,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Norges Bank acquired a new position in Workday in the 2nd quarter valued at approximately $442,702,000. Generation Investment Management LLP increased its position in shares of Workday by 36.6% during the first quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock valued at $678,117,000 after purchasing an additional 778,301 shares during the period. AQR Capital Management LLC raised its stake in shares of Workday by 415.6% in the second quarter. AQR Capital Management LLC now owns 675,148 shares of the software maker’s stock valued at $162,036,000 after purchasing an additional 544,192 shares in the last quarter. Vanguard Group Inc. lifted its position in Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after purchasing an additional 515,529 shares during the period. Finally, Fernbridge Capital Management LP boosted its stake in Workday by 58.6% during the second quarter. Fernbridge Capital Management LP now owns 1,241,380 shares of the software maker’s stock worth $297,931,000 after buying an additional 458,598 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the sale, the chief executive officer owned 20,222 shares of the company’s stock, valued at $4,803,129.44. This represents a 23.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the sale, the chief financial officer owned 168,468 shares of the company’s stock, valued at $39,189,026.16. The trade was a 3.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 266,937 shares of company stock worth $59,316,578 over the last quarter. Corporate insiders own 19.31% of the company’s stock.

Workday Stock Up 1.8%

NASDAQ WDAY opened at $220.70 on Friday. The stock’s 50 day simple moving average is $225.39 and its 200 day simple moving average is $230.52. Workday, Inc. has a one year low of $205.33 and a one year high of $283.68. The firm has a market cap of $58.04 billion, a PE ratio of 92.73, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. JPMorgan Chase & Co. dropped their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Stifel Nicolaus lowered their target price on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Raymond James Financial began coverage on shares of Workday in a research note on Friday, November 21st. They set a “market perform” rating for the company. Guggenheim reiterated a “buy” rating and issued a $285.00 price objective on shares of Workday in a research note on Wednesday, November 26th. Finally, Evercore ISI increased their target price on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $282.22.

About Workday

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.