Mitsubishi UFJ Asset Management Co. Ltd. Acquires 7,650 Shares of Workday, Inc. (NASDAQ:WDAY)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,881 shares of the software maker's stock after purchasing an additional 7,650 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Workday were worth $28,420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Workday by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker's stock worth $3,010,244,000 after buying an additional 263,994 shares during the period. Wellington Management Group LLP lifted its stake in shares of Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker's stock valued at $1,109,348,000 after buying an additional 1,406,153 shares in the last quarter. Polen Capital Management LLC grew its holdings in shares of Workday by 2.0% during the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker's stock valued at $848,726,000 after buying an additional 78,352 shares during the last quarter. Morgan Stanley increased its position in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker's stock worth $586,021,000 after acquiring an additional 872,288 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 8.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker's stock worth $564,976,000 after acquiring an additional 206,112 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares of the company's stock, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total transaction of $15,509,200.00. Following the sale, the insider now directly owns 1,011,000 shares in the company, valued at $279,996,450. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 over the last quarter. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $5.26 during mid-day trading on Thursday, hitting $256.57. The company had a trading volume of 1,887,099 shares, compared to its average volume of 1,847,066. The firm's 50 day simple moving average is $261.99 and its two-hundred day simple moving average is $267.32. Workday, Inc. has a 12 month low of $182.59 and a 12 month high of $311.28. The stock has a market cap of $67.73 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 6.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) EPS. As a group, equities research analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. Needham & Company LLC upped their price objective on shares of Workday from $300.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, February 27th. StockNews.com lowered shares of Workday from a "strong-buy" rating to a "buy" rating in a report on Monday, April 8th. The Goldman Sachs Group raised their price objective on Workday from $270.00 to $310.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on Workday from $260.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their target price on Workday from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $296.64.

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.