AMF Tjanstepension AB Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

AMF Tjanstepension AB lessened its position in Workday, Inc. (NASDAQ:WDAY) by 79.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,405 shares of the software maker’s stock after selling 77,340 shares during the quarter. AMF Tjanstepension AB’s holdings in Workday were worth $5,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC increased its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC increased its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after purchasing an additional 105 shares during the period. Sound Income Strategies LLC increased its holdings in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the period. CVA Family Office LLC purchased a new stake in Workday during the 4th quarter worth about $33,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $223.56 on Friday. The company has a 50 day moving average of $232.50 and a 200-day moving average of $263.40. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $59.24 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 5.64 and a beta of 1.33.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company posted $0.16 earnings per share. Workday’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WDAY shares. Needham & Company LLC restated a “buy” rating and set a $350.00 price target on shares of Workday in a report on Friday, May 24th. Citigroup decreased their target price on Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Evercore ISI reduced their price objective on Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Barclays cut their target price on Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Bank of America lowered their target price on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.11.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 64,162 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $27,981,194.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $21,658,209.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 64,162 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $271.67, for a total transaction of $17,430,890.54. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $27,981,194.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 448,713 shares of company stock valued at $109,278,793. Corporate insiders own 20.00% of the company’s stock.

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.