Norges Bank Acquires Shares of 2,502,460 Workday, Inc. (NASDAQ:WDAY)

Norges Bank acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,502,460 shares of the software maker's stock, valued at approximately $645,710,000. Norges Bank owned 0.94% of Workday as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC raised its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp lifted its holdings in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Finally, Parnassus Investments LLC grew its stake in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several brokerages recently commented on WDAY. StockNews.com cut shares of Workday from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target on Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Daiwa America raised Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Monday, March 24th. Finally, BMO Capital Markets upped their target price on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $300.18.

Insider Activity

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the transaction, the director now directly owns 75,000 shares of the company's stock, valued at $18,099,750. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 431,145 shares of company stock worth $108,631,438. 20.00% of the stock is currently owned by company insiders.

Workday Stock Down 2.2 %

Shares of NASDAQ:WDAY traded down $5.35 during midday trading on Monday, hitting $233.14. 2,179,851 shares of the company's stock traded hands, compared to its average volume of 2,521,160. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a market cap of $62.01 billion, a PE ratio of 38.68, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm's fifty day moving average price is $256.67 and its two-hundred day moving average price is $254.82.

Workday (NASDAQ:WDAY - Get Free Report) last posted 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS 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.