Generali Asset Management SPA SGR Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Generali Asset Management SPA SGR acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,155 shares of the software maker’s stock, valued at approximately $3,652,000.

Several other large investors have also modified their holdings of WDAY. Janus Henderson Group PLC boosted its stake in 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 acquiring an additional 480,459 shares in the last quarter. State Street Corp lifted its holdings in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after purchasing an additional 76,618 shares during the period. Parnassus Investments LLC grew its stake in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after buying an additional 14,159 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDAY shares. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, February 26th. Piper Sandler upped their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, KeyCorp increased their target price on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating 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’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Workday Stock Performance

NASDAQ:WDAY opened at $251.91 on Wednesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a market capitalization of $67.01 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $256.89 and a two-hundred day moving average price of $255.30.

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

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 473,001 shares of company stock valued at $120,614,400 over the last three months. 20.00% of the stock is currently owned by insiders.

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.