Workday, Inc. (NASDAQ:WDAY) Position Boosted by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 81.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,148 shares of the software maker’s stock after acquiring an additional 2,756 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Workday were worth $1,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDAY. Roxbury Financial LLC purchased a new position in Workday during the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new position in Workday during the 4th quarter valued at about $26,000. Avion Wealth grew its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new position in Workday during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $252.50 on Thursday. The business has a fifty day simple moving average of $256.84 and a 200 day simple moving average of $255.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $67.17 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

WDAY has been the topic of several research analyst reports. Oppenheimer lifted their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $275.00 in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, UBS Group boosted their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 71,672 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now owns 75,000 shares in the company, valued at $18,099,750. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 473,001 shares of company stock worth $120,614,400. 20.00% of the stock is owned by corporate insiders.

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.