Thrivent Financial for Lutherans Acquires New Stake in Workday, Inc. (NASDAQ:WDAY)

Thrivent Financial for Lutherans bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,008 shares of the software maker’s stock, valued at approximately $2,324,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter worth approximately $25,000. Crews Bank & Trust bought a new position in Workday in the fourth quarter worth approximately $26,000. Avion Wealth raised its position in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. TCTC Holdings LLC bought a new stake in shares of Workday during the 4th quarter valued at $35,000. Finally, True Wealth Design LLC increased its stake in shares of Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 2.5 %

NASDAQ WDAY opened at $244.55 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a market capitalization of $65.05 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The company has a fifty day moving average of $256.89 and a two-hundred day moving average of $254.93.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Piper Sandler lifted their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $300.36.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 3,677 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total value of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares in the company, valued at approximately $20,045,194.40. This represents a 4.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,776,029.22. The trade was a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 over the last quarter. Company insiders own 20.00% of the company’s stock.

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.