Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Workday, Inc. $WDAY

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 573,263 shares of the software maker’s stock after buying an additional 3,547 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Workday were worth $138,002,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDAY. Loop Capital set a $280.00 price objective on shares of Workday in a report on Wednesday, December 10th. Royal Bank Of Canada reduced their price target on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. decreased their price target on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Raymond James Financial initiated coverage on Workday in a research note on Friday, November 21st. They issued a “market perform” rating for the company. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $278.09.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 22,185 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the sale, the insider directly owned 106,330 shares of the company’s stock, valued at $22,347,376.10. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Workday Trading Down 4.0%

Shares of Workday stock opened at $199.55 on Wednesday. Workday, Inc. has a 1 year low of $199.00 and a 1 year high of $283.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The business has a 50 day moving average price of $218.58 and a 200 day moving average price of $227.88. The company has a market capitalization of $52.48 billion, a P/E ratio of 83.84, a P/E/G ratio of 2.34 and a beta of 1.14.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping 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 company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.