Workday, Inc. (NASDAQ:WDAY) Holdings Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 90,090 shares of the software maker's stock after buying an additional 7,194 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Workday were worth $21,486,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $241.23, for a total value of $753,843.75. Following the transaction, the chief executive officer owned 7,722 shares of the company's stock, valued at approximately $1,862,778.06. This trade represents a 28.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the sale, the director owned 67,500 shares in the company, valued at approximately $16,767,675. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,733 shares of company stock valued at $59,649,301. 20.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and set a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Stifel Nicolaus lowered their price target on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Finally, Morgan Stanley set a $255.00 target price on shares of Workday and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average price target of $297.68.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $0.77 during trading hours on Tuesday, hitting $239.23. 2,601,513 shares of the company's stock traded hands, compared to its average volume of 2,459,876. The company's fifty day simple moving average is $248.50 and its two-hundred day simple moving average is $250.34. The company has a market cap of $63.87 billion, a price-to-earnings ratio of 132.17, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. The business had revenue of $2.24 billion during 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 business's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 earnings per share. As a group, equities analysts anticipate 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.