162,354 Shares of Workday, Inc. $WDAY Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 162,354 Workday shares worth approximately $30.9 million, representing about 0.07% of the company. Institutional investors collectively own 89.81% of Workday.
• Analyst sentiment is mixed: Workday has a consensus “Hold” rating from 43 analysts, with an average price target of $202.10, despite several firms raising targets and issuing “outperform” ratings.
• Workday exceeded quarterly expectations, reporting $2.75 in adjusted earnings per share and $2.65 billion in revenue, with revenue up 12.8% year over year. Insiders have sold nearly $188.8 million of stock over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 162,354 shares of the software maker's stock, valued at approximately $30,922,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Workday as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Lead Edge Capital Management LLC purchased a new stake in shares of Workday during the first quarter valued at approximately $79,988,000. Renaissance Technologies LLC bought a new stake in shares of Workday during the first quarter valued at approximately $75,600,000. Pacer Advisors Inc. raised its holdings in Workday by 60.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker's stock worth $159,418,000 after acquiring an additional 462,002 shares during the last quarter. Carmignac Gestion purchased a new position in Workday in the 1st quarter worth approximately $59,438,000. Finally, Tidal Investments LLC raised its holdings in Workday by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker's stock worth $176,218,000 after acquiring an additional 437,175 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on WDAY. CLSA started coverage on Workday in a research report on Monday, July 20th. They issued an "underperform" rating and a $92.00 price objective on the stock. Dbs Bank raised Workday to a "hold" rating in a report on Wednesday, September 9th. Sanford C. Bernstein boosted their price target on Workday from $216.00 to $238.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. The Goldman Sachs Group boosted their price target on Workday from $151.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, August 31st. Finally, Royal Bank Of Canada upped their price target on Workday from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Twenty-two research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Hold" and an average price target of $202.10.

Workday Stock Performance

Shares of WDAY stock opened at $198.13 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $194.03 and a 200-day moving average price of $156.30. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $241.04. The firm has a market capitalization of $47.75 billion, a PE ratio of 40.19, a P/E/G ratio of 2.05 and a beta of 1.07.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm's revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Workday, Inc. will post 5.32 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, insider Robert Enslin sold 5,374 shares of the business's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,004,938.00. Following the completion of the sale, the insider directly owned 226,233 shares in the company, valued at approximately $42,305,571. The trade was a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit Kazmaier sold 2,729 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $187.28, for a total value of $511,087.12. Following the transaction, the insider directly owned 251,314 shares in the company, valued at $47,066,085.92. The trade was a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 988,104 shares of company stock worth $188,811,574 in the last 90 days. Insiders own 18.64% of the company's stock.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company's products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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