Varma Mutual Pension Insurance Co Boosts Holdings in Workday, Inc. $WDAY

Varma Mutual Pension Insurance Co grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,169 shares of the software maker’s stock after acquiring an additional 3,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Workday were worth $10,874,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its position in shares of Workday by 636.7% during the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after acquiring an additional 1,630 shares during the period. PKO Investment Management Joint Stock Co purchased a new stake in shares of Workday in the 3rd quarter valued at approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday in the 3rd quarter valued at about $2,000,000. Rakuten Investment Management Inc. purchased a new position in shares of Workday in the 3rd quarter valued at approximately $124,718,000. Finally, Norges Bank acquired a new position in Workday during the second quarter worth $442,702,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WDAY has been the topic of a number of research analyst reports. Zacks Research lowered Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Guggenheim reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, November 26th. Evercore ISI set a $200.00 price objective on shares of Workday in a research note on Monday. KeyCorp dropped their price objective on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, Piper Sandler dropped their price target on Workday from $235.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $269.06.

Workday Trading Up 0.3%

Workday stock opened at $144.42 on Friday. The stock has a market capitalization of $37.98 billion, a P/E ratio of 60.68, a PEG ratio of 1.23 and a beta of 1.13. 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, Inc. has a 52 week low of $140.59 and a 52 week high of $281.00. The stock has a 50-day simple moving average of $196.02 and a 200 day simple moving average of $218.07.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The firm 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 business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, insider Robert Enslin sold 22,185 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the sale, the insider directly owned 106,330 shares of the company’s stock, valued at $22,347,376.10. This trade represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of Workday stock in a transaction on Friday, December 19th. The shares were 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 owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 370,321 shares of company stock worth $78,866,401. Company 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.