Workday, Inc. (NASDAQ:WDAY) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,735 shares of the software maker's stock after buying an additional 7,518 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Workday were worth $21,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the first quarter valued at about $32,000. TCTC Holdings LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $35,000. Financial Management Professionals Inc. grew 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 purchasing an additional 54 shares during the period. Rakuten Securities Inc. grew its position 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 purchasing an additional 66 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of Workday by 169.6% in the first quarter. Rothschild Investment LLC now owns 213 shares of the software maker's stock valued at $50,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

Workday stock opened at $233.46 on Thursday. The company's 50 day simple moving average is $247.33 and its 200-day simple moving average is $251.41. The company has a market capitalization of $62.33 billion, a price-to-earnings ratio of 128.98, a price-to-earnings-growth ratio of 3.61 and a beta of 1.24. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. 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 (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.74 EPS. As a group, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WDAY. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a research report on Wednesday, May 21st. KeyCorp lowered their price target on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Piper Sandler restated a "neutral" rating and set a $255.00 price target (up from $230.00) on shares of Workday in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $297.68.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of Workday stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. This trade represents a 44.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,762 shares of company stock worth $41,995,382. Corporate insiders own 19.31% of the company's stock.

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.

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