Mitsubishi UFJ Asset Management Co. Ltd. Purchases 23,838 Shares of Workday, Inc. $WDAY

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 473,411 shares of the software maker’s stock after acquiring an additional 23,838 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Workday were worth $97,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WDAY. Rakuten Securities Inc. bought a new position in shares of Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday during the 3rd quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of Workday during the 3rd quarter worth about $30,000. eCIO Inc. bought a new position in Workday in the 4th quarter valued at about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Workday in the 4th quarter valued at about $36,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 6.7%

NASDAQ:WDAY opened at $130.88 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 50.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $276.00. The firm has a 50-day moving average price of $129.72 and a two-hundred day moving average price of $177.74.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. On average, equities analysts expect that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares in the company, valued at $21,406,225.74. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 989,814 shares of company stock worth $131,576,291 over the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WDAY. KeyCorp dropped their price target on shares of Workday from $260.00 to $155.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Sanford C. Bernstein dropped their price target on shares of Workday from $298.00 to $214.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Robert W. Baird set a $195.00 price target on shares of Workday in a research report on Tuesday, February 24th. JPMorgan Chase & Co. dropped their price target on shares of Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Finally, DA Davidson dropped their price target on shares of Workday from $250.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.71.

Workday 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.