Resona Asset Management Co. Ltd. Takes $16.89 Million Position in Workday, Inc. (NASDAQ:WDAY)

Resona Asset Management Co. Ltd. acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, Holdings Channel reports. The firm acquired 65,167 shares of the software maker’s stock, valued at approximately $16,892,000.

A number of other institutional investors also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC lifted its position in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock valued at $754,000 after buying an additional 968 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after acquiring an additional 1,978 shares during the last quarter. Nordea Investment Management AB lifted its position in Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in Workday in the fourth quarter valued at approximately $369,000. Finally, Principal Financial Group Inc. grew its holdings in Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock worth $4,349,000 after purchasing an additional 5,519 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 432,441 shares of company stock valued at $108,901,692 over the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Trading Down 4.9 %

WDAY stock opened at $217.14 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $57.76 billion, a P/E ratio of 36.01, a PEG ratio of 3.55 and a beta of 1.38. The company’s 50-day simple moving average is $254.30 and its 200-day simple moving average is $254.09.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business 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%. As a group, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Jefferies Financial Group lowered their price target on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a report on Monday, March 31st. Loop Capital upped their price objective on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Workday 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.