BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,371 shares of the software maker's stock after acquiring an additional 2,594 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Workday were worth $6,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Capital World Investors boosted its holdings in shares of Workday by 1.3% during the 4th quarter. Capital World Investors now owns 355,364 shares of the software maker's stock valued at $91,695,000 after buying an additional 4,394 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Workday by 40.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 350,829 shares of the software maker's stock valued at $90,545,000 after acquiring an additional 101,466 shares during the period. First Trust Advisors LP grew its position in Workday by 3.0% in the 4th quarter. First Trust Advisors LP now owns 1,326,036 shares of the software maker's stock worth $342,157,000 after purchasing an additional 38,855 shares during the period. Forum Financial Management LP purchased a new stake in Workday during the fourth quarter valued at $287,000. Finally, GeoWealth Management LLC lifted its stake in shares of Workday by 12.3% in the 4th quarter. GeoWealth Management LLC now owns 2,153 shares of the software maker's stock worth $556,000 after purchasing an additional 235 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Up 5.3 %

Shares of NASDAQ WDAY traded up $12.00 during mid-day trading on Thursday, reaching $236.87. The company had a trading volume of 1,685,062 shares, compared to its average volume of 2,623,694. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The business's 50-day moving average is $241.68 and its 200-day moving average is $251.76. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock valued at $77,976,126 over the last 90 days. Corporate insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Oppenheimer upped their price target on Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Jefferies Financial Group cut their price objective on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada raised their price objective on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler decreased their price target on Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $292.86.

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.