Workday, Inc. (NASDAQ:WDAY) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 362.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,472 shares of the software maker’s stock after acquiring an additional 50,545 shares during the quarter. Corebridge Financial Inc.’s holdings in Workday were worth $16,636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC grew its stake in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after acquiring an additional 968 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares in the last quarter. Nordea Investment Management AB increased its holdings in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after purchasing an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Workday in the 4th quarter valued at approximately $369,000. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Workday by 387.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock valued at $86,926,000 after buying an additional 282,632 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $261.75, for a total value of $14,658,000.00. Following the transaction, the insider now owns 172,000 shares in the company, valued at $45,021,000. This represents a 24.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,001 shares of company stock worth $105,735,200. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Trading Up 0.2 %

Shares of WDAY opened at $249.91 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The stock has a market capitalization of $66.48 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38. The business’s 50-day moving average price is $256.83 and its 200 day moving average price is $255.05.

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

About Workday

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.