Workday, Inc. (NASDAQ:WDAY) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,336 shares of the software maker's stock after buying an additional 1,970 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Workday were worth $5,216,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Farmers & Merchants Investments Inc. acquired a new position in shares of Workday in the 1st quarter valued at $32,000. TCTC Holdings LLC acquired a new position in shares of Workday in the 4th quarter valued at $35,000. Financial Management Professionals Inc. increased its holdings in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after acquiring an additional 66 shares during the period. Finally, Pinnacle Bancorp Inc. acquired a new position in shares of Workday in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WDAY shares. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a report on Friday, May 23rd. KeyCorp dropped their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Loop Capital dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday, May 23rd. Jefferies Financial Group dropped their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director owned 67,500 shares of the company's stock, valued at approximately $16,767,675. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 73,971 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the sale, the insider directly owned 102,997 shares of the company's stock, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,003 shares of company stock valued at $61,713,656. Insiders own 19.31% of the company's stock.

Workday Trading Down 4.5%

NASDAQ:WDAY traded down $10.87 on Thursday, reaching $229.30. The stock had a trading volume of 4,155,441 shares, compared to its average volume of 2,479,472. The company has a market cap of $61.22 billion, a price-to-earnings ratio of 126.69, a P/E/G ratio of 3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The firm's fifty day moving average is $249.15 and its two-hundred day moving average is $249.07. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.74 EPS. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal 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.