Allspring Global Investments Holdings LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Allspring Global Investments Holdings LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 34.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 217,149 shares of the software maker’s stock after acquiring an additional 56,230 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Workday were worth $54,687,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WDAY. Two Sigma Advisers LP boosted its stake in shares of Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares in the last quarter. KBC Group NV boosted its position in Workday by 340.3% during the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares during the period. Janus Henderson Group PLC boosted its position in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Workday during the 3rd quarter valued at $78,003,000. Finally, Lindbrook Capital LLC boosted its position in Workday by 17,001.6% during the 3rd quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after buying an additional 284,266 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $260.13 on Friday. The firm’s 50-day moving average price is $262.35 and its 200-day moving average price is $251.18. 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 company has a market cap of $69.19 billion, a PE ratio of 43.14, a PEG ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. As a group, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Loop Capital dropped their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Mizuho increased their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.43.

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.