Workday, Inc. $WDAY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Workday by 5.1% in Q4, selling 29,310 shares and now holds 543,953 shares (about 0.21%) valued at roughly $116.83 million.
• Insiders have been net sellers: Gerrit S. Kazmaier and major shareholder David A. Duffield sold sizable blocks (9,356 and 107,500 shares respectively), and insiders disposed of 988,229 shares worth $131.4 million over the last quarter, often under Rule 10b5‑1 plans and to cover tax withholding.
• Analysts are lowering targets (RBC to $180, JPMorgan to $230, Guggenheim to $275) though the consensus remains a "Moderate Buy" with a $199.71 price target; Workday recently beat EPS estimates ($2.47 vs. $2.32) and revenue rose 14.5% year‑over‑year.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 543,953 shares of the software maker's stock after selling 29,310 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Workday worth $116,830,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday in the third quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in Workday in the third quarter valued at $30,000. eCIO Inc. acquired a new position in Workday in the fourth quarter valued at $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Workday in the fourth quarter valued at $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on WDAY shares. Royal Bank Of Canada dropped their price objective on shares of Workday from $220.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Guggenheim dropped their price objective on shares of Workday from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of Workday from $270.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 24th. Needham & Company LLC restated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 25th. Finally, Weiss Ratings lowered shares of Workday from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.71.

Insider Transactions at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the business's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company's stock, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 the business's stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 988,229 shares of company stock worth $131,397,107. Company insiders own 19.31% of the company's stock.

Workday Trading Up 6.6%

Shares of Workday stock opened at $119.92 on Tuesday. 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 company's 50-day simple moving average is $137.44 and its 200-day simple moving average is $190.50. The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.14.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the business posted $1.92 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. 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 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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