National Pension Service Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

National Pension Service grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 464,675 shares of the software maker’s stock after purchasing an additional 13,140 shares during the period. National Pension Service’s holdings in Workday were worth $128,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC lifted its position in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Workday during the third quarter worth about $29,000. Exchange Traded Concepts LLC boosted its position in shares of Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares during the period. Finally, CVA Family Office LLC acquired a new stake in shares of Workday in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $0.20 during midday trading on Wednesday, hitting $249.63. 1,466,430 shares of the stock were exchanged, compared to its average volume of 1,835,188. The stock has a market cap of $65.90 billion, a P/E ratio of 48.47, a PEG ratio of 6.39 and a beta of 1.33. Workday, Inc. has a twelve month low of $174.70 and a twelve month high of $311.28. The company has a 50 day moving average price of $266.02 and a 200-day moving average price of $266.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, research analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the sale, the insider now owns 1,011,000 shares in the company, valued at approximately $279,996,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. 21.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective on shares of Workday in a research note on Monday, February 26th. Morgan Stanley decreased their price target on shares of Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Barclays decreased their target price on shares of Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, Needham & Company LLC boosted their price target on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $293.61.

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.