Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stock Position in Workday, Inc. $WDAY

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 42.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,837 shares of the software maker’s stock after selling 21,593 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Workday were worth $7,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Verdence Capital Advisors LLC increased its stake in shares of Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after buying an additional 45 shares during the period. Perennial Investment Advisors LLC lifted its stake in Workday by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after acquiring an additional 48 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in Workday by 2.3% in the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after acquiring an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC raised its holdings in Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after purchasing an additional 49 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after purchasing an additional 49 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research analyst reports. Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Wednesday, November 26th. Rosenblatt Securities began coverage on Workday in a research report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 price objective on the stock. Oppenheimer reissued an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. UBS Group set a $260.00 target price on Workday in a research note on Wednesday, November 26th. Finally, Royal Bank Of Canada reduced their price target on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.25.

Insider Transactions at Workday

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the transaction, the insider owned 111,353 shares in the company, valued at $24,360,695.81. The trade was a 5.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.00, for a total transaction of $656,250.00. Following the sale, the chief executive officer directly owned 17,097 shares in the company, valued at $3,590,370. This trade represents a 15.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 370,321 shares of company stock worth $78,866,401 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $207.18 on Monday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock has a market cap of $54.49 billion, a P/E ratio of 87.05, a P/E/G ratio of 2.34 and a beta of 1.14. The business’s 50 day moving average price is $219.85 and its 200-day moving average price is $228.35. Workday, Inc. has a 52 week low of $202.22 and a 52 week high of $283.68.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.