Sumitomo Mitsui Trust Holdings Inc. Sells 2,483 Shares of Workday, Inc. (NASDAQ:WDAY)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 548,654 shares of the software maker’s stock after selling 2,483 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of Workday worth $149,645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lazard Asset Management LLC raised its stake in Workday by 29.3% in the third quarter. Lazard Asset Management LLC now owns 62,796 shares of the software maker’s stock valued at $13,491,000 after buying an additional 14,214 shares during the period. AQR Capital Management LLC raised its stake in Workday by 51.9% in the third quarter. AQR Capital Management LLC now owns 162,667 shares of the software maker’s stock valued at $34,949,000 after buying an additional 55,579 shares during the period. Truist Financial Corp raised its stake in Workday by 16.2% in the third quarter. Truist Financial Corp now owns 118,445 shares of the software maker’s stock valued at $25,448,000 after buying an additional 16,515 shares during the period. Lido Advisors LLC raised its stake in Workday by 19.1% in the third quarter. Lido Advisors LLC now owns 1,623 shares of the software maker’s stock valued at $349,000 after buying an additional 260 shares during the period. Finally, Sei Investments Co. raised its stake in Workday by 25.2% in the third quarter. Sei Investments Co. now owns 902,551 shares of the software maker’s stock valued at $193,911,000 after buying an additional 181,694 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. TD Cowen decreased their target price on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Mizuho decreased their target price on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Bank of America decreased their target price on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Finally, KeyCorp reduced their price target on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.11.

Workday Trading Down 0.1 %

NASDAQ:WDAY traded down $0.27 during trading hours on Wednesday, hitting $226.49. 310,654 shares of the company were exchanged, compared to its average volume of 2,206,053. The stock has a market capitalization of $60.02 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 5.64 and a beta of 1.35. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28. The company has a fifty day simple moving average of $231.32 and a 200 day simple moving average of $262.55.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a return on equity of 5.78% and a net margin of 19.66%. Workday’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. Sell-side analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the transaction, the insider now directly owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.12, for a total transaction of $15,014,720.00. Following the completion of the transaction, the insider now owns 899,000 shares in the company, valued at approximately $241,039,880. 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 57,000 shares of Workday stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the transaction, the insider now owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The disclosure for this sale can be found here. Insiders sold a total of 518,830 shares of company stock valued at $121,906,588 in the last three months. Insiders own 20.00% of the company’s stock.

Workday Company 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.