Handelsbanken Fonder AB Boosts Holdings in Workday, Inc. $WDAY

Handelsbanken Fonder AB increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 57.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 126,296 shares of the software maker’s stock after buying an additional 46,051 shares during the quarter. Handelsbanken Fonder AB’s holdings in Workday were worth $15,461,000 at the end of the most recent reporting period.

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

Workday Trading Up 17.8%

Shares of NASDAQ WDAY opened at $206.45 on Friday. The business has a 50-day moving average price of $143.31 and a two-hundred day moving average price of $138.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $50.99 billion, a PE ratio of 64.52, a PEG ratio of 1.87 and a beta of 1.08. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 earnings per share. As a group, analysts predict that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Trending Headlines about Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Potential $43 billion takeout: Reuters reported that Silver Lake and Workday have held discussions in recent months regarding a possible acquisition. The prospect of a buyout at or above Workday’s roughly $43 billion market value fueled takeover speculation and drove heavy trading, including temporary volatility-related trading halts. Silver Lake in talks to buy Workday, sources say
• Positive Sentiment: Buyout could revive software-sector interest: Coverage characterized the reported transaction as potentially one of the largest software buyouts in history. Investors are viewing a potential private-equity deal as a catalyst for Workday’s valuation and possibly broader interest in beaten-down enterprise software stocks. Workday’s stock sees a record surge. Could a buyout spark a software revival?
• Positive Sentiment: Analyst remains bullish: William Blair analyst Patrick McIlwee reiterated a Buy rating, citing what he considers an oversold valuation, the quality of Workday’s franchise and potential upside from a takeover. Analyst Reiterates Buy on Workday
• Neutral Sentiment: Deal remains unconfirmed: The discussions are reportedly ongoing, and sources cautioned that there is no guarantee an agreement will be reached. Workday’s rally therefore reflects speculation rather than a completed transaction. Exclusive-Silver Lake in talks to buy Workday, sources say

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research analyst reports. KeyCorp increased their price target on shares of Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Jefferies Financial Group boosted their target price on shares of Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. Oppenheimer restated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Wells Fargo & Company boosted their target price on Workday from $185.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group cut their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.14.

Insider Activity at Workday

In related news, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of the business’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 transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. This represents a 2.04% decrease in their position. 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. Over the last ninety days, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by company insiders.

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.