Securian Asset Management Inc. Invests $2.96 Million in Workday, Inc. (NASDAQ:WDAY)

Securian Asset Management Inc. bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,485 shares of the software maker’s stock, valued at approximately $2,963,000.

A number of other large investors have also modified their holdings of WDAY. Raymond James Financial Inc. acquired a new stake in shares of Workday in the fourth quarter valued at about $194,679,000. Two Sigma Advisers LP grew its stake in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Workday by 62.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock valued at $350,921,000 after buying an additional 524,799 shares in the last quarter. KBC Group NV grew its stake in shares of Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent analyst reports. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler raised their price objective on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price objective on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. The trade was a 39.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock worth $113,033,319 in the last three months. Insiders own 20.00% of the company’s stock.

Workday Stock Down 0.5 %

NASDAQ:WDAY opened at $241.67 on Thursday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $64.28 billion, a P/E ratio of 40.08, a P/E/G ratio of 3.55 and a beta of 1.38. The stock’s fifty day simple moving average is $257.38 and its 200-day simple moving average is $255.80.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

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.