Workday, Inc. $WDAY Stock Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Workday position by 14.2% in the third quarter, purchasing 12,681 additional shares and bringing its holdings to 102,228 shares valued at approximately $19.5 million. Institutional investors collectively own 89.81% of Workday.
• Analyst sentiment remains mixed, with 22 Buy, 19 Hold, and 2 Sell ratings. Workday has a consensus rating of Hold and an average price target of $202.10.
• Major shareholder David Duffield sold 100,780 shares for about $18.7 million under a Rule 10b5-1 plan, while insiders sold nearly 988,104 shares worth $188.8 million over the prior 90 days. Workday recently exceeded quarterly earnings and revenue estimates, reporting $2.75 EPS and $2.65 billion in revenue.

Asset Management One Co. Ltd. lifted its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,228 shares of the software maker's stock after buying an additional 12,681 shares during the period. Asset Management One Co. Ltd.'s holdings in Workday were worth $19,470,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WDAY. Kintegral Advisory LLC grew its stake in Workday by 0.6% during the third quarter. Kintegral Advisory LLC now owns 10,893 shares of the software maker's stock worth $2,075,000 after buying an additional 61 shares during the period. CoreCap Advisors LLC raised its stake in shares of Workday by 55.9% in the 3rd quarter. CoreCap Advisors LLC now owns 173 shares of the software maker's stock valued at $33,000 after acquiring an additional 62 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Workday by 1.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,770 shares of the software maker's stock valued at $908,000 after acquiring an additional 75 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of Workday by 21.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 481 shares of the software maker's stock valued at $92,000 after acquiring an additional 86 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its holdings in shares of Workday by 5.5% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,791 shares of the software maker's stock valued at $341,000 after acquiring an additional 93 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore lifted their price target on shares of Workday from $160.00 to $215.00 in a research note on Thursday, October 8th. Capital One Financial cut their price target on Workday from $203.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 14th. Freedom Broker downgraded Workday from a "buy" rating to a "hold" rating and increased their price target for the company from $180.00 to $200.00 in a report on Friday, August 28th. TD Cowen dropped their price objective on Workday from $220.00 to $210.00 and set a "hold" rating on the stock in a report on Friday, August 28th. Finally, Bank of America upped their target price on Workday from $140.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. Twenty-two analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Hold" and an average price target of $202.10.

Insider Activity at Workday

In related news, major shareholder David Duffield sold 100,780 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the completion of the sale, the insider owned 105,049 shares of the company's stock, valued at $19,501,296.36. This represents a 48.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 988,104 shares of company stock valued at $188,811,574. Insiders own 18.64% of the company's stock.

Workday Stock Down 4.4%

Shares of Workday stock opened at $195.46 on Friday. The business has a 50-day moving average price of $194.06 and a 200 day moving average price of $156.36. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $241.32. The firm has a market cap of $47.11 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.05 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. The business's quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. On average, sell-side analysts forecast that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

About Workday

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company's products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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