Handelsbanken Fonder AB Sells 1,649 Shares of Workday, Inc. (NASDAQ:WDAY)

Handelsbanken Fonder AB decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,652 shares of the software maker’s stock after selling 1,649 shares during the quarter. Handelsbanken Fonder AB’s holdings in Workday were worth $19,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter valued at $26,000. Roxbury Financial LLC acquired a new stake in Workday in the fourth quarter valued at $25,000. Avion Wealth raised its position in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Workday during the 3rd quarter worth $26,000. Finally, Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last three months. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 2.0 %

Shares of WDAY opened at $256.39 on Friday. The firm has a market cap of $68.20 billion, a P/E ratio of 42.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business has a 50-day moving average of $260.75 and a 200 day moving average of $252.87.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDAY. Royal Bank of Canada raised their price objective on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research report on Thursday, February 6th. Finally, Piper Sandler restated a “neutral” rating and issued a $270.00 target price (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $291.11.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.