Royal London Asset Management Ltd. Has $23.64 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Royal London Asset Management Ltd. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,610 shares of the software maker's stock after acquiring an additional 5,120 shares during the period. Royal London Asset Management Ltd.'s holdings in Workday were worth $23,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bristlecone Advisors LLC raised its stake in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC raised its position in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after buying an additional 1,978 shares during the last quarter. Nordea Investment Management AB lifted 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 acquiring an additional 119,769 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in Workday during the 4th quarter worth approximately $369,000. Finally, Worldquant Millennium Advisors LLC grew 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 worth $86,926,000 after acquiring an additional 282,632 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages recently commented on WDAY. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. BMO Capital Markets increased their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price objective on Workday from $300.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Finally, Scotiabank decreased their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $300.36.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,001 shares of company stock worth $105,735,200. Corporate insiders own 20.00% of the company's stock.

Workday Price Performance

Shares of WDAY stock traded up $2.92 during trading on Tuesday, hitting $252.83. The company had a trading volume of 1,176,580 shares, compared to its average volume of 2,424,524. The stock's 50-day moving average price is $256.97 and its 200 day moving average price is $255.03. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. 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 has a market capitalization of $67.25 billion, a P/E ratio of 41.93, a price-to-earnings-growth 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 the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Company 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.