Workday, Inc. (NASDAQ:WDAY) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 298.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,521 shares of the software maker's stock after purchasing an additional 18,373 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Workday were worth $5,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC increased its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company increased its position in Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after buying an additional 1,406,088 shares during the period. Brown Advisory Inc. increased its position in Workday by 1.5% during the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock worth $911,027,000 after buying an additional 52,104 shares during the period. Finally, FIL Ltd increased its position in Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after buying an additional 181,899 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $340.00 price target on shares of Workday in a research report on Friday, May 23rd. Oppenheimer cut their price target on Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. Mizuho cut their price target on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. KeyCorp cut their price target on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, DA Davidson lifted their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

Insider Buying and Selling

In other news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 73,971 shares of the business'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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,005 shares of company stock valued at $79,203,523. Company insiders own 19.31% of the company's stock.

Workday Price Performance

WDAY traded up $2.25 during trading on Friday, reaching $233.14. 1,673,644 shares of the stock were exchanged, compared to its average volume of 2,478,751. The business's 50 day moving average price is $246.35 and its two-hundred day moving average price is $247.41. 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 capitalization of $62.25 billion, a price-to-earnings ratio of 128.74, a P/E/G ratio of 3.43 and a beta of 1.21. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

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, topping analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.74 earnings per share. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.