Corebridge Financial Inc. Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

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

Other large investors have also recently bought and sold shares of the company. Moors & Cabot Inc. acquired a new stake in shares of Workday during the third quarter worth about $203,000. Cerity Partners LLC lifted its position in Workday by 7.1% during the 3rd quarter. Cerity Partners LLC now owns 78,595 shares of the software maker’s stock worth $19,209,000 after acquiring an additional 5,189 shares during the period. Kingsview Wealth Management LLC grew its stake in shares of Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the last quarter. Swedbank AB increased its holdings in shares of Workday by 2.1% in the third quarter. Swedbank AB now owns 82,847 shares of the software maker’s stock valued at $20,249,000 after purchasing an additional 1,668 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Workday by 80.0% during the third quarter. Larson Financial Group LLC now owns 754 shares of the software maker’s stock worth $184,000 after purchasing an additional 335 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WDAY. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. KeyCorp boosted their target price on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their price target on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Up 0.2 %

WDAY stock opened at $249.91 on Tuesday. The company has a 50 day moving average price of $256.83 and a two-hundred day moving average price of $255.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $66.48 billion, a P/E ratio of 41.44, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

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

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,001 shares of company stock worth $105,735,200 in the last three months. Company insiders own 20.00% of the company’s stock.

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.