Workday, Inc. $WDAY Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 43.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 789,459 shares of the software maker’s stock after selling 604,137 shares during the quarter. Nordea Investment Management AB’s holdings in Workday were worth $170,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Finivi Inc. lifted its holdings in shares of Workday by 3.3% in the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock valued at $365,000 after purchasing an additional 48 shares during the last quarter. Bay Harbor Wealth Management LLC grew its stake in Workday by 12.0% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after buying an additional 49 shares during the last quarter. Farther Finance Advisors LLC increased its position in Workday by 1.2% during the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after buying an additional 49 shares during the period. Strategic Investment Advisors MI increased its position in Workday by 1.6% during the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after buying an additional 50 shares during the period. Finally, Spirepoint Private Client LLC lifted its stake in Workday by 3.6% in the third quarter. Spirepoint Private Client LLC now owns 1,452 shares of the software maker’s stock valued at $350,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. Robert W. Baird set a $195.00 target price on shares of Workday in a research report on Tuesday, February 24th. Sanford C. Bernstein reduced their price target on shares of Workday from $298.00 to $214.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Loop Capital set a $210.00 price target on shares of Workday in a research note on Thursday, March 12th. Oppenheimer lowered their price objective on shares of Workday from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, BMO Capital Markets dropped their price objective on shares of Workday from $204.00 to $182.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Insider Buying and Selling

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Harry Sauer sold 1,130 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the completion of the sale, the insider owned 85,398 shares of the company’s stock, valued at approximately $17,933,580. The trade was a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 737,815 shares of company stock worth $116,507,538. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

Workday stock opened at $135.96 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $157.12 and a 200-day simple moving average of $202.42. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00. The stock has a market capitalization of $34.94 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. Workday’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $1.92 EPS. Equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

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.