Workday, Inc. (NASDAQ:WDAY) Stock Position Lowered by Ownership Capital B.V.

Ownership Capital B.V. trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 754,242 shares of the software maker’s stock after selling 54,326 shares during the period. Workday accounts for about 7.2% of Ownership Capital B.V.’s investment portfolio, making the stock its 4th largest position. Ownership Capital B.V. owned about 0.28% of Workday worth $194,617,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC increased its position in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares in the last quarter. Sanctuary Advisors LLC increased its position in 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 purchasing an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new position in Workday in the 3rd quarter valued at about $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Finally, Nordea Investment Management AB boosted 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 purchasing an additional 119,769 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last three months. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WDAY shares. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday. They set a “neutral” rating on the stock. Piper Sandler reissued a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research report on Tuesday, December 3rd. Bank of America reduced their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Citigroup lowered their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $291.11.

Workday Price Performance

Shares of WDAY stock opened at $261.10 on Thursday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market capitalization of $69.45 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 3.62 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $261.36 and a 200-day simple moving average of $252.47.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

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.