APG Asset Management N.V. Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

APG Asset Management N.V. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 52.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,615 shares of the software maker’s stock after buying an additional 80,583 shares during the period. APG Asset Management N.V. owned about 0.09% of Workday worth $49,148,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WDAY. Van ECK Associates Corp grew its stake in shares of Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after purchasing an additional 925,366 shares during the period. Vanguard Group Inc. increased its stake in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after purchasing an additional 437,215 shares in the last quarter. D1 Capital Partners L.P. increased its stake in Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares in the last quarter. Kodai Capital Management LP acquired a new position in Workday during the fourth quarter worth $85,994,000. Finally, Sustainable Growth Advisers LP boosted its position in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after purchasing an additional 301,463 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

Workday stock opened at $245.43 on Friday. The company has a market cap of $65.04 billion, a price-to-earnings ratio of 44.22, a price-to-earnings-growth ratio of 4.91 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s 50-day moving average is $238.20 and its 200-day moving average is $241.70.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company posted $0.40 earnings per share. Workday’s revenue was up 16.5% compared to the same quarter last year. Equities analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research reports. Stifel Nicolaus lifted their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. KeyCorp increased their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Barclays lifted their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Loop Capital upped their target price on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the sale, the insider now owns 618,000 shares in the company, valued at approximately $140,978,160. The disclosure for this sale can be found here. In the last three months, insiders sold 467,402 shares of company stock valued at $111,071,544. Company insiders own 20.00% of the company’s stock.

Workday 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.