Dai ichi Life Insurance Company Ltd Grows Position in Workday, Inc. (NASDAQ:WDAY)

Dai ichi Life Insurance Company Ltd boosted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 97.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,699 shares of the software maker's stock after acquiring an additional 16,590 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Workday were worth $9,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Beacon Capital Management LLC raised its holdings in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker's stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker's stock valued at $31,000 after buying an additional 105 shares during the period. CVA Family Office LLC purchased a new stake in Workday during the 4th quarter valued at $33,000. VisionPoint Advisory Group LLC grew its position in shares of Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker's stock worth $26,000 after buying an additional 84 shares in the last quarter. Finally, Clear Street Markets LLC bought a new position in shares of Workday during the 3rd quarter worth $29,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 64,329 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 64,329 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their price target on Workday from $250.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, February 27th. TheStreet upgraded Workday from a "c" rating to a "b-" rating in a research note on Monday, February 26th. KeyCorp lifted their target price on Workday from $310.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Piper Sandler reiterated an "overweight" rating and issued a $330.00 target price on shares of Workday in a research note on Monday, February 26th. Finally, Needham & Company LLC lifted their target price on Workday from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $296.64.

Workday Price Performance

Shares of WDAY stock traded up $1.02 during trading hours on Wednesday, hitting $259.88. 2,201,361 shares of the company's stock were exchanged, compared to its average volume of 1,853,632. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $68.61 billion, a P/E ratio of 50.26, a P/E/G ratio of 7.74 and a beta of 1.33. The firm has a 50 day moving average of $261.31 and a two-hundred day moving average of $269.00. Workday, Inc. has a fifty-two week low of $191.04 and a fifty-two week high of $311.28.

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, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the business earned ($0.14) earnings per share. The firm's revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Workday Company Profile

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.