SEB Asset Management AB Makes New Investment in Workday, Inc. $WDAY

SEB Asset Management AB bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 75,058 shares of the software maker’s stock, valued at approximately $9,752,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Workday in the fourth quarter valued at approximately $448,804,000. Harvest Fund Management Co. Ltd lifted its stake in Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Aurora Investment Counsel acquired a new stake in shares of Workday in the 4th quarter valued at $2,357,000. Finally, Morningstar Investment Management LLC increased its stake in shares of Workday by 127.2% in the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after purchasing an additional 15,138 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WDAY shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. CLSA initiated coverage on Workday in a research report on Monday. They issued an “underperform” rating and a $92.00 target price on the stock. TD Cowen reissued a “hold” rating on shares of Workday in a research note on Friday, May 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 price target on shares of Workday in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.80.

Insiders Place Their Bets

In other news, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This trade represents a 50.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by company insiders.

Workday Price Performance

WDAY stock opened at $141.17 on Wednesday. The company has a fifty day moving average price of $132.42 and a 200-day moving average price of $143.01. The company has a market capitalization of $34.87 billion, a P/E ratio of 44.12, a PEG ratio of 1.57 and a beta of 1.11. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.23 earnings per share. As a group, equities analysts expect that Workday, Inc. will post 5.35 EPS for the current year.

About Workday

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.