Swedbank AB Has $7.90 Million Stock Holdings in Workday, Inc. $WDAY

Swedbank AB trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 33.1% in the first quarter, HoldingsChannel reports. The firm owned 60,824 shares of the software maker’s stock after selling 30,160 shares during the quarter. Swedbank AB’s holdings in Workday were worth $7,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WDAY. Rakuten Securities Inc. acquired a new stake in shares of Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday in the 3rd quarter valued at about $26,000. DT Investment Partners LLC bought a new position in Workday in the 4th quarter valued at about $27,000. LRI Investments LLC bought a new position in Workday in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday during the third quarter worth approximately $30,000. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of NASDAQ WDAY traded up $0.61 during midday trading on Friday, reaching $138.95. The company’s stock had a trading volume of 1,907,705 shares, compared to its average volume of 4,840,891. 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, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The business’s 50 day moving average price is $129.78 and its two-hundred day moving average price is $147.13. The company has a market cap of $34.32 billion, a P/E ratio of 43.42, a P/E/G ratio of 1.48 and a beta of 1.11.

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

Insider Buying and Selling

In other news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the sale, the chief financial officer directly owned 288,460 shares in the company, valued at approximately $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of the stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 766,602 shares of company stock valued at $99,108,423 over the last 90 days. 18.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WDAY shares. Summit Redstone set a $275.00 price objective on Workday in a report on Wednesday, May 27th. Jefferies Financial Group lifted their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. Finally, Needham & Company LLC lowered their price objective on Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Workday Company Profile

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.