KLP Kapitalforvaltning AS Invests $25.85 Million in Workday, Inc. (NASDAQ:WDAY)

KLP Kapitalforvaltning AS purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 100,184 shares of the software maker’s stock, valued at approximately $25,850,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp increased its position in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC raised its stake in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after buying an additional 76,618 shares during the period. Parnassus Investments LLC lifted its holdings in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $249.49 on Friday. The firm has a 50 day moving average of $256.76 and a 200-day moving average of $255.11. The company has a market cap of $66.36 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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 return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, insider Richard Harry Sauer sold 3,677 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $251.90, for a total value of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares of the company’s stock, valued at $20,045,194.40. The trade was a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the transaction, the insider now directly owns 172,000 shares in the company, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 473,001 shares of company stock worth $120,614,400. Corporate insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. 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 report on Thursday, February 27th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

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.