Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,533 shares of the software maker's stock after purchasing an additional 43,432 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Workday worth $91,902,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Cornerstone Planning Group LLC boosted its stake in shares of Workday by 76.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in Workday during the first quarter worth $32,000. Financial Management Professionals Inc. boosted its position in shares of Workday by 54.0% in the first 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. Pinnacle Bancorp Inc. bought a new stake in Workday during the first quarter worth about $40,000. Finally, BankPlus Trust Department acquired a new position in Workday during the first quarter worth about $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on WDAY. Royal Bank Of Canada restated an "outperform" rating and set a $340.00 price target on shares of Workday in a report on Friday, May 23rd. Oppenheimer cut their target price on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Westpark Capital lifted their price target on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, JMP Securities reissued a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $296.88.
Get Our Latest Report on WDAY
Insider Buying and Selling at Workday
In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the sale, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock worth $79,203,523 in the last ninety days. Company insiders own 19.31% of the company's stock.
Workday Price Performance
Shares of Workday stock traded up $1.09 on Friday, hitting $222.07. The company had a trading volume of 2,386,346 shares, compared to its average volume of 2,512,807. The business has a 50-day simple moving average of $237.71 and a 200-day simple moving average of $245.22. 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 company has a market cap of $59.29 billion, a PE ratio of 122.69, a PEG ratio of 3.36 and a beta of 1.24. Workday, Inc. has a 52 week low of $205.33 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 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 the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.
About Workday
(
Free Report)
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.
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