KLP Kapitalforvaltning AS Invests $25.85 Million in Workday, Inc. (NASDAQ:WDAY)

KLP Kapitalforvaltning AS acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,184 shares of the software maker's stock, valued at approximately $25,850,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new position in Workday in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new stake in shares of Workday in the 4th quarter valued at approximately $26,000. Avion Wealth raised its holdings in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Workday during the 4th quarter worth approximately $35,000. Finally, True Wealth Design LLC boosted its stake in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after buying an additional 143 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of several recent analyst reports. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Stifel Nicolaus raised their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. 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 report on Wednesday, November 27th. BMO Capital Markets raised their price target on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $300.36.

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Workday Stock Up 1.2 %

Shares of Workday stock traded up $2.92 on Tuesday, hitting $252.83. The company had a trading volume of 1,175,123 shares, compared to its average volume of 2,248,307. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. 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 moving average of $256.83 and a 200-day moving average of $255.05. The firm has a market capitalization of $67.25 billion, a P/E ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38.

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

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 102,997 shares in the company, valued at $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 417,001 shares of company stock worth $105,735,200. 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.