SVB Wealth LLC Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

SVB Wealth LLC acquired a new stake in Workday, Inc. (NASDAQ:WDAY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,733 shares of the software maker’s stock, valued at approximately $5,608,000.

A number of other large investors have also made changes to their positions in the stock. Bristlecone Advisors LLC lifted its holdings in 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 in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of 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 buying an additional 1,978 shares during the period. Grafton Street Partners Fund LP acquired a new stake in Workday during the third quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the period. Finally, Nordea Investment Management AB raised its holdings 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 during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WDAY. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Citigroup lowered their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus raised their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Performance

NASDAQ:WDAY opened at $263.34 on Friday. The firm has a 50-day moving average of $259.69 and a two-hundred day moving average of $254.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $70.05 billion, a P/E ratio of 43.67, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 70,090 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. The trade was a 40.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 433,321 shares of company stock valued at $111,763,803. 20.00% of the stock is currently owned by corporate insiders.

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.