Sumitomo Mitsui DS Asset Management Company Ltd Sells 21,593 Shares of Workday, Inc. $WDAY

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 42.0% in the 3rd quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in Workday by 32.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 24,718 shares of the software maker’s stock worth $5,950,000 after buying an additional 6,048 shares during the last quarter. First Bancorp Inc ME purchased a new stake in shares of Workday during the 3rd quarter valued at about $241,000. SG Americas Securities LLC grew its stake in shares of Workday by 34.6% in the third quarter. SG Americas Securities LLC now owns 6,269 shares of the software maker’s stock worth $1,509,000 after acquiring an additional 1,610 shares during the period. HB Wealth Management LLC grew its stake in shares of Workday by 4.3% in the third quarter. HB Wealth Management LLC now owns 8,334 shares of the software maker’s stock worth $2,006,000 after acquiring an additional 347 shares during the period. Finally, CX Institutional purchased a new position in shares of Workday during the third quarter valued at approximately $400,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the completion of the transaction, the chief executive officer directly owned 17,097 shares in the company, valued at $3,590,370. This represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the completion of the sale, the insider directly owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 370,321 shares of company stock worth $78,866,401 in the last quarter. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

Shares of Workday stock opened at $207.18 on Monday. 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 company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s fifty day moving average is $219.85 and its 200 day moving average is $228.35. Workday, Inc. has a one year low of $202.22 and a one year high of $283.68.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $2.42 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Workday’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on WDAY. UBS Group set a $260.00 target price on shares of Workday in a report on Wednesday, November 26th. Stifel Nicolaus lowered their price target on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. KeyCorp dropped their price target on Workday from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a research report on Wednesday, November 26th. Finally, DA Davidson lowered their target price on Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.25.

About Workday

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.