Thrivent Financial for Lutherans Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Thrivent Financial for Lutherans purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,008 shares of the software maker’s stock, valued at approximately $2,324,000.

Several other large investors have also recently made changes to their positions in the stock. Bristlecone Advisors LLC raised its holdings in Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in Workday during the fourth quarter valued at approximately $369,000. Finally, Worldquant Millennium Advisors LLC grew its holdings in Workday by 387.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock worth $86,926,000 after purchasing an additional 282,632 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Trading Down 2.5 %

Shares of WDAY stock opened at $244.55 on Friday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market cap of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a 50 day simple moving average of $256.89 and a 200-day simple moving average of $254.93.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on WDAY. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. KeyCorp raised their price target on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler upped their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $300.36.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 71,672 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 487,145 shares of company stock worth $123,289,438. Corporate insiders own 20.00% of the company’s stock.

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.