Workday, Inc. $WDAY Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its position in Workday, Inc. (NASDAQ:WDAY) by 40.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,056 shares of the software maker’s stock after selling 75,590 shares during the quarter. Korea Investment CORP’s holdings in Workday were worth $27,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Workday during the 2nd quarter worth $25,000. Berbice Capital Management LLC raised its position in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after buying an additional 75 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after buying an additional 133 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Workday in the third quarter worth about $40,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Workday in the second quarter worth about $41,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several research reports. UBS Group dropped their price objective on shares of Workday from $170.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Citigroup decreased their target price on shares of Workday from $247.00 to $148.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. TD Cowen cut Workday from a “buy” rating to a “hold” rating and set a $155.00 target price on the stock. in a report on Wednesday, February 25th. BTIG Research dropped their price target on Workday from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Citizens Jmp cut Workday from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 18th. Twenty research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.19.

Insider Transactions at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $134.40, for a total value of $14,448,000.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $14,118,585.60. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 503,296 shares of company stock valued at $91,729,216 in the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of WDAY stock opened at $148.14 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. The company has a market capitalization of $38.96 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The firm’s 50-day moving average is $170.76 and its two-hundred day moving average is $208.28. Workday, Inc. has a 12 month low of $117.76 and a 12 month high of $276.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. Analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company 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.