KBC Group NV Acquires 324,766 Shares of Workday, Inc. $WDAY

KBC Group NV grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 671.4% in the first quarter, HoldingsChannel reports. The fund owned 373,141 shares of the software maker’s stock after purchasing an additional 324,766 shares during the quarter. KBC Group NV’s holdings in Workday were worth $48,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. bought a new position in shares of Workday in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in Workday in the 3rd quarter worth approximately $30,000. DT Investment Partners LLC bought a new stake in Workday during the 4th quarter worth approximately $27,000. Finally, LRI Investments LLC purchased a new position in Workday during the fourth quarter valued at approximately $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,364,400.26. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This represents a 1.01% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 875,020 shares of company stock valued at $113,938,503 in the last ninety days. Company insiders own 18.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WDAY shares. Wells Fargo & Company increased their price objective on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Bank of America assumed coverage on shares of Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price on the stock. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “underweight” rating and set a $145.00 target price for the company. in a report on Tuesday. TD Cowen reiterated a “hold” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Needham & Company LLC decreased their price target on Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Stock Performance

WDAY opened at $147.22 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $36.36 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 1.55 and a beta of 1.11. The company has a fifty day moving average of $131.97 and a 200 day moving average of $143.53. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

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.