Nordea Investment Management AB Lowers Holdings in Workday, Inc. $WDAY

Nordea Investment Management AB reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 43.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 789,459 shares of the software maker’s stock after selling 604,137 shares during the period. Nordea Investment Management AB owned about 0.30% of Workday worth $170,184,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Aventura Private Wealth LLC purchased a new position in Workday in the 4th quarter valued at approximately $132,000. Sagespring Wealth Partners LLC grew its stake in shares of Workday by 3.0% in the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock worth $441,000 after acquiring an additional 59 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Workday during the fourth quarter worth $128,000. Finivi Inc. increased its position in shares of Workday by 3.3% during the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after acquiring an additional 48 shares during the period. Finally, Garde Capital Inc. raised its stake in shares of Workday by 132.9% in the third quarter. Garde Capital Inc. now owns 1,896 shares of the software maker’s stock valued at $119,000 after acquiring an additional 1,082 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gerrit S. Kazmaier sold 3,759 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total value of $784,616.07. Following the completion of the transaction, the insider directly owned 105,167 shares of the company’s stock, valued at $21,951,507.91. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 737,815 shares of company stock valued at $116,507,538 over the last 90 days. Insiders own 20.00% of the company’s stock.

Workday Stock Up 1.9%

Workday stock opened at $135.96 on Monday. The stock has a market cap of $34.94 billion, a PE ratio of 52.70, a P/E/G ratio of 1.32 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The stock’s fifty day moving average is $157.12 and its two-hundred day moving average is $202.42. Workday, Inc. has a 1-year low of $117.76 and a 1-year high of $276.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm posted $1.92 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent research reports. Jefferies Financial Group lowered Workday from a “buy” rating to a “hold” rating and decreased their target price for the company from $325.00 to $150.00 in a report on Monday, February 23rd. Loop Capital set a $210.00 price target on Workday in a research report on Thursday, March 12th. Morgan Stanley decreased their price objective on Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. Piper Sandler lowered their price objective on Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, Evercore lowered shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 target price on the stock. in a research note on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.