Workday, Inc. (NASDAQ:WDAY) Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 544,293 shares of the software maker’s stock after purchasing an additional 9,071 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Workday were worth $140,444,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WDAY. Two Sigma Advisers LP lifted its position in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after buying an additional 562,400 shares in the last quarter. KBC Group NV increased its stake in shares of Workday by 340.3% in the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after acquiring an additional 506,812 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Workday during the third quarter valued at $78,003,000. Finally, Lindbrook Capital LLC boosted its position in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Down 2.1 %

Shares of WDAY opened at $271.89 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $72.32 billion, a P/E ratio of 45.09, a P/E/G ratio of 4.73 and a beta of 1.35. The company has a 50-day simple moving average of $261.64 and a 200-day simple moving average of $249.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. On average, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. The trade was a 40.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock worth $113,142,592 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WDAY shares. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Loop Capital decreased their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Scotiabank began coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $292.43.

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.