Mitsubishi UFJ Asset Management Co. Ltd. Has $97.42 Million Stock Position in Workday, Inc. $WDAY

Key Points

• Mitsubishi UFJ Asset Management raised its stake in Workday by 5.3% to 473,411 shares—worth $97.42 million—and institutional investors now own about 89.81% of the company.
• Workday reported an EPS beat of $2.47 vs. $2.32 and revenue of $2.53 billion (up 14.5% YoY); the stock has a $33.64 billion market cap and a P/E of 50.7.
• Insiders sold heavily this quarter (about 989,814 shares worth $131.6M, including founder David Duffield), while analysts are mixed—consensus is a "Moderate Buy" with a $199.71 target amid recent price-target cuts.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,411 shares of the software maker's stock after purchasing an additional 23,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Workday worth $97,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new position in shares of Workday in the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday in the 3rd quarter worth $26,000. JPL Wealth Management LLC bought a new position in shares of Workday in the 3rd quarter worth $30,000. eCIO Inc. bought a new position in shares of Workday in the 4th quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Workday in the 4th quarter worth $36,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Up 6.7%

NASDAQ WDAY opened at $130.88 on Friday. The business has a fifty day moving average price of $129.72 and a two-hundred day moving average price of $177.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $276.00. The stock has a market capitalization of $33.64 billion, a PE ratio of 50.73, a PEG ratio of 1.19 and a beta of 1.04.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company's quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts expect that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein cut their price target on Workday from $298.00 to $214.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. TD Cowen downgraded Workday from a "buy" rating to a "hold" rating and set a $155.00 price target on the stock. in a research report on Wednesday, February 25th. Weiss Ratings downgraded Workday from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Raymond James Financial restated a "market perform" rating on shares of Workday in a report on Monday, February 9th. Finally, KeyCorp reduced their price objective on Workday from $260.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.71.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the company's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider owned 165,074 shares of the company's stock, valued at $21,193,850.86. The trade was a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 989,814 shares of company stock valued at $131,576,291 over the last quarter. Company insiders own 19.31% of the company's stock.

About Workday

Workday, Inc NASDAQ: WDAY is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday's platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company's product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.

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