Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Workday, Inc. $WDAY

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 54.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,157 shares of the software maker’s stock after acquiring an additional 26,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Workday were worth $9,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new position in shares of Workday in the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Workday in the third quarter worth $26,000. DT Investment Partners LLC bought a new stake in shares of Workday during the 4th quarter valued at $27,000. LRI Investments LLC bought a new stake in shares of Workday during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Workday during the 3rd quarter valued at $30,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 1,585 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $113.05, for a total transaction of $179,184.25. Following the completion of the transaction, the chief accounting officer directly owned 31,467 shares of the company’s stock, valued at approximately $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total value of $13,119,300.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This represents a 50.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 882,314 shares of company stock valued at $111,443,691. 18.64% of the stock is owned by company insiders.

Workday Stock Performance

WDAY opened at $135.40 on Friday. The stock has a market capitalization of $33.44 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 1.45 and a beta of 1.11. The company has a fifty day moving average of $127.76 and a 200 day moving average of $149.84. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. DA Davidson set a $135.00 price objective on Workday in a research note on Tuesday, May 26th. Finally, Summit Redstone set a $275.00 target price on Workday in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

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.