China Universal Asset Management Co. Ltd. Buys 1,970 Shares of Workday, Inc. (NASDAQ:WDAY)

China Universal Asset Management Co. Ltd. raised its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 22,336 shares of the software maker's stock after acquiring an additional 1,970 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Workday were worth $5,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday during the first quarter worth $32,000. TCTC Holdings LLC purchased a new position in shares of Workday in the 4th quarter worth about $35,000. Financial Management Professionals Inc. grew its holdings in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after purchasing an additional 54 shares during the period. Rakuten Securities Inc. raised its stake in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after buying an additional 66 shares during the period. Finally, Pinnacle Bancorp Inc. purchased a new stake in shares of Workday during the 1st quarter valued at approximately $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the transaction, the chief financial officer directly owned 178,418 shares in the company, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 73,971 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total value 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 represents a 41.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 256,500 shares of company stock worth $61,826,251 in the last quarter. Company insiders own 19.31% of the company's stock.

Workday Stock Up 0.2%

WDAY traded up $0.37 on Wednesday, reaching $240.84. The company's stock had a trading volume of 824,256 shares, compared to its average volume of 2,467,184. 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 business's 50 day moving average is $249.24 and its 200 day moving average is $249.14. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a market cap of $64.30 billion, a price-to-earnings ratio of 133.02, a price-to-earnings-growth ratio of 3.64 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the firm earned $1.74 EPS. The firm's revenue was up 12.6% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WDAY shares. JPMorgan Chase & Co. lowered their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Oppenheimer reduced their target price on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Scotiabank dropped their price target on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, Jefferies Financial Group decreased their price target on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $297.68.

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.