AMF Tjanstepension AB Acquires New Holdings in Workday, Inc. $WDAY

AMF Tjanstepension AB purchased a new position in Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 195,304 shares of the software maker’s stock, valued at approximately $47,016,000. AMF Tjanstepension AB owned about 0.07% of Workday at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Workday by 0.9% during the third quarter. CIBC Asset Management Inc now owns 87,745 shares of the software maker’s stock worth $21,123,000 after acquiring an additional 814 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in Workday by 15.6% in the third quarter. Stoneridge Investment Partners LLC now owns 7,713 shares of the software maker’s stock valued at $1,857,000 after acquiring an additional 1,039 shares during the last quarter. Oxbow Advisors LLC acquired a new stake in Workday in the third quarter worth about $6,364,000. Blackhawk Capital Partners LLC raised its holdings in Workday by 23.9% during the 3rd quarter. Blackhawk Capital Partners LLC now owns 13,167 shares of the software maker’s stock worth $3,170,000 after purchasing an additional 2,543 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Workday by 1.2% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 81,500 shares of the software maker’s stock worth $19,619,000 after buying an additional 1,000 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Up 0.6%

NASDAQ:WDAY opened at $189.26 on Friday. The stock has a 50-day simple moving average of $212.32 and a 200 day simple moving average of $225.04. Workday, Inc. has a 52-week low of $180.56 and a 52-week high of $283.68. The company has a market cap of $49.78 billion, a PE ratio of 79.52, a PEG ratio of 2.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WDAY. Morgan Stanley upped their target price on shares of Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Guggenheim reiterated a “buy” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, November 26th. Oppenheimer reissued an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Sanford C. Bernstein decreased their target price on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Finally, DA Davidson lowered their price target on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.09.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the transaction, the insider directly owned 111,353 shares in the company, valued at $24,360,695.81. This trade represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 82,884 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $22,034,027.75. This represents a 44.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. Corporate insiders own 19.31% of the company’s stock.

Workday Company 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.