Workday, Inc. (NASDAQ:WDAY) Position Increased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,636 shares of the software maker’s stock after acquiring an additional 2,881 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Workday were worth $12,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WDAY. Marcum Wealth LLC raised its holdings in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after acquiring an additional 41 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Workday by 8.1% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,228 shares of the software maker’s stock worth $317,000 after acquiring an additional 92 shares in the last quarter. Define Financial LLC purchased a new stake in shares of Workday during the fourth quarter worth $202,000. Oak Thistle LLC raised its holdings in Workday by 70.8% during the fourth quarter. Oak Thistle LLC now owns 10,900 shares of the software maker’s stock valued at $2,813,000 after buying an additional 4,519 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Workday during the fourth quarter valued at about $545,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Redburn Atlantic initiated coverage on Workday in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Royal Bank of Canada raised their target price on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. DA Davidson cut their target price on Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Piper Sandler cut their target price on Workday from $290.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group cut their target price on Workday from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $293.62.

Workday Stock Up 0.4%

WDAY stock opened at $271.17 on Thursday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a market cap of $72.13 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30. The business’s 50-day simple moving average is $239.33 and its 200 day simple moving average is $252.78. 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 (NASDAQ:WDAY) last released its earnings results 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This represents a 5.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 over the last quarter. Company insiders own 19.31% 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.