OVERSEA CHINESE BANKING Corp Ltd Purchases 2,756 Shares of Workday, Inc. (NASDAQ:WDAY)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 81.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,148 shares of the software maker's stock after buying an additional 2,756 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Workday were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of WDAY. Bristlecone Advisors LLC grew its stake in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC grew its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Nordea Investment Management AB increased its stake in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after buying an additional 119,769 shares during the period. Burns Matteson Capital Management LLC purchased a new stake in Workday in the 4th quarter worth approximately $369,000. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Workday by 387.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker's stock valued at $86,926,000 after buying an additional 282,632 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Workday Stock Performance

Workday stock traded up $0.42 during trading hours on Monday, hitting $249.91. The stock had a trading volume of 2,022,118 shares, compared to its average volume of 2,427,576. The company has a 50-day moving average of $256.76 and a two-hundred day moving average of $255.09. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market cap of $66.48 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

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

Insider Activity

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction 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 directly owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 417,001 shares of company stock worth $105,735,200. 20.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Piper Sandler raised their price target on Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $300.00 price target on shares of Workday in a research note on Monday. BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Redburn Atlantic assumed coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $300.36.

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.