Skandinaviska Enskilda Banken AB publ Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Skandinaviska Enskilda Banken AB publ increased its stake in Workday, Inc. (NASDAQ:WDAY) by 13.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,060 shares of the software maker’s stock after acquiring an additional 5,419 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Workday were worth $10,521,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Workday in the 1st quarter valued at $27,000. Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp increased its holdings in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Pacific Center for Financial Services lifted its stake in shares of Workday by 57.0% in the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after acquiring an additional 57 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in Workday during the 2nd quarter valued at about $36,000. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $248.29 on Friday. The business has a fifty day moving average price of $237.48 and a 200-day moving average price of $242.12. 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 company has a market capitalization of $65.80 billion, a PE ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. As a group, equities analysts expect that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock worth $109,864,184 in the last three months. Insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday. KeyCorp boosted their price objective 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 increased their target price on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One 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 company. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.48.

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.