Nordea Investment Management AB Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Nordea Investment Management AB raised its holdings in Workday, Inc. (NASDAQ:WDAY) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,990 shares of the software maker’s stock after buying an additional 119,769 shares during the period. Nordea Investment Management AB’s holdings in Workday were worth $182,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Meeder Asset Management Inc. raised its stake in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC boosted its stake in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares during the period. Mesirow Financial Investment Management Inc. grew its position in shares of Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after buying an additional 48 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Workday by 3.0% during the third quarter. Concord Wealth Partners now owns 1,765 shares of the software maker’s stock worth $431,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the sale, the insider now owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,158 shares of company stock valued at $78,650,975. 20.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on WDAY shares. Mizuho lifted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a report on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, The Goldman Sachs Group increased their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.36.

Workday Trading Up 0.5 %

NASDAQ WDAY opened at $254.14 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $67.60 billion, a P/E ratio of 42.15, a P/E/G ratio of 5.04 and a beta of 1.34. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a 50-day moving average price of $261.38 and a 200 day moving average price of $245.16.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts expect that Workday, Inc. will post 2.58 EPS for the current year.

Workday 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.