Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,735 shares of the software maker’s stock after purchasing an additional 3,242 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Workday were worth $13,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Two Sigma Advisers LP boosted its holdings in shares of Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after purchasing an additional 562,400 shares during the period. KBC Group NV lifted its position in Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after buying an additional 506,812 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Workday during the third quarter valued at $78,003,000. Finally, Lindbrook Capital LLC raised its stake in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after acquiring an additional 284,266 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on WDAY shares. Scotiabank assumed coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target for the company. Morgan Stanley increased their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Royal Bank of Canada boosted their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $292.43.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at approximately $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Down 2.1 %

Workday stock opened at $271.89 on Friday. The business’s 50-day simple moving average is $261.64 and its two-hundred day simple moving average is $249.91. 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 company has a market cap of $72.32 billion, a PE ratio of 45.09, a PEG ratio of 4.73 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS 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.