Workday, Inc. $WDAY Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its Workday stake by 15.3%, selling 21,410 shares and leaving 118,286 shares valued at $25.405 million after the fourth quarter.
• Multiple analysts sharply lowered price targets on WDAY (examples: Barclays $230→$200, Mizuho $275→$210, Wells Fargo $255→$180), though the consensus remains a “Moderate Buy” with an average target of $199.71.
• Insiders sold 989,814 shares in the last quarter (≈$131.6 million), including Gerrit Kazmaier and David Duffield, with insiders now owning about 20% of the company.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,286 shares of the software maker's stock after selling 21,410 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Workday were worth $25,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. State Street Corp grew its stake in shares of Workday by 0.8% during the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker's stock worth $2,328,959,000 after purchasing an additional 74,052 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Workday by 41.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker's stock worth $905,530,000 after purchasing an additional 1,103,421 shares during the period. Finally, Parnassus Investments LLC grew its stake in shares of Workday by 13.1% during the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker's stock worth $774,478,000 after purchasing an additional 371,561 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WDAY. Barclays dropped their price target on shares of Workday from $230.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Rosenblatt Securities dropped their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Mizuho dropped their price target on shares of Workday from $275.00 to $210.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Wells Fargo & Company dropped their price target on shares of Workday from $255.00 to $180.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Finally, KeyCorp dropped their price target on shares of Workday from $260.00 to $155.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.71.

Insider Buying and Selling at Workday

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at $21,193,850.86. The trade was a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $13,631,158.24. This represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 989,814 shares of company stock worth $131,576,291. Insiders own 20.00% of the company's stock.

Workday Stock Up 1.0%

NASDAQ WDAY opened at $122.43 on Thursday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The business's fifty day simple moving average is $130.37 and its 200-day simple moving average is $181.15. The firm has a market cap of $31.46 billion, a PE ratio of 47.45, a P/E/G ratio of 1.14 and a beta of 1.14.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 5.11 earnings per share for the current year.

Workday Company Profile

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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