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

Handelsbanken Fonder AB reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Ieq Capital LLC lifted its position in Workday by 27.1% in the 4th quarter. Ieq Capital LLC now owns 24,080 shares of the software maker’s stock valued at $6,213,000 after acquiring an additional 5,135 shares in the last quarter. Private Advisor Group LLC lifted its position in Workday by 10.4% during the 4th quarter. Private Advisor Group LLC now owns 7,742 shares of the software maker’s stock worth $1,998,000 after buying an additional 729 shares in the last quarter. Lyell Wealth Management LP lifted its position in Workday by 0.6% during the 4th quarter. Lyell Wealth Management LP now owns 91,466 shares of the software maker’s stock worth $23,601,000 after buying an additional 538 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Workday during the 4th quarter worth about $95,000. Finally, Atria Wealth Solutions Inc. lifted its position in Workday by 22.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,825 shares of the software maker’s stock worth $729,000 after buying an additional 520 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 2.0 %

NASDAQ WDAY opened at $256.39 on Friday. The company has a market cap of $68.20 billion, a price-to-earnings ratio of 42.52, a PEG ratio of 3.56 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. 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 company has a 50 day moving average of $260.75 and a 200-day moving average of $252.87.

Workday (NASDAQ:WDAY) last released its earnings results 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 return on equity of 6.13% and a net margin of 19.86%. The firm 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 company posted $0.47 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Thursday, February 6th. Mizuho boosted their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Barclays cut their price target on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday. They set a “neutral” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $291.11.

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.