Mitsubishi UFJ Asset Management Co. Ltd. Purchases 19,402 Shares of Workday, Inc. (NASDAQ:WDAY)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 18.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,283 shares of the software maker’s stock after purchasing an additional 19,402 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Workday were worth $34,171,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its stake in Workday by 22.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock worth $519,000 after acquiring an additional 450 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares in the last quarter. Nordea Investment Management AB grew its stake in Workday by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 455,413 shares of the software maker’s stock worth $125,348,000 after acquiring an additional 17,850 shares in the last quarter. Marcum Wealth LLC bought a new position in Workday in the 4th quarter worth about $207,000. Finally, BKM Wealth Management LLC bought a new position in Workday in the 4th quarter worth about $117,000. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the sale, the insider now owns 204,066 shares in the company, valued at $43,759,913.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the sale, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The disclosure for this sale can be found here. Insiders have sold a total of 524,672 shares of company stock worth $115,938,834 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Sanford C. Bernstein dropped their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Citigroup decreased their target price on shares of Workday from $293.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Loop Capital decreased their target price on shares of Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada decreased their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $281.44.

Workday Stock Performance

WDAY stock traded down $4.61 during midday trading on Friday, hitting $225.97. 1,301,035 shares of the stock traded hands, compared to its average volume of 2,185,575. The firm has a market cap of $59.88 billion, a P/E ratio of 40.45, a PEG ratio of 5.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s fifty day simple moving average is $226.10 and its 200-day simple moving average is $258.94. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28.

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

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.