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

Varma Mutual Pension Insurance Co boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,169 shares of the software maker’s stock after purchasing an additional 3,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Workday were worth $10,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of Workday in the 2nd quarter worth approximately $25,000. Berbice Capital Management LLC increased its holdings in Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after buying an additional 75 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after buying an additional 133 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Workday during the 3rd quarter worth approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Workday during the second quarter worth about $41,000. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research analyst reports. Barclays reduced their price objective on shares of Workday from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Guggenheim reissued a “buy” rating and set a $285.00 price objective on shares of Workday in a research report on Wednesday, November 26th. Raymond James Financial reissued a “market perform” rating on shares of Workday in a research note on Monday. JPMorgan Chase & Co. lowered their price target on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, DA Davidson lowered their target price on Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $269.06.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 82,884 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Enslin sold 22,185 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 106,330 shares of the company’s stock, valued at $22,347,376.10. The trade was a 17.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 370,321 shares of company stock valued at $78,866,401. 19.31% of the stock is currently owned by company insiders.

Workday Trading Up 0.3%

NASDAQ:WDAY opened at $144.42 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The business’s 50-day simple moving average is $196.02 and its 200 day simple moving average is $218.07. The stock has a market cap of $37.98 billion, a price-to-earnings ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. Workday, Inc. has a one year low of $140.59 and a one year high of $281.00.

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 the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the business posted $1.89 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday 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.