OVERSEA CHINESE BANKING Corp Ltd Boosts Position in Workday, Inc. (NASDAQ:WDAY)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 81.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,148 shares of the software maker’s stock after buying an additional 2,756 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Workday were worth $1,619,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bristlecone Advisors LLC raised its holdings in Workday by 49.6% in 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 period. Sanctuary Advisors LLC raised its stake in shares of 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 purchasing an additional 1,978 shares during the period. Nordea Investment Management AB raised its stake in shares of 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 purchasing an additional 119,769 shares during the period. Burns Matteson Capital Management LLC purchased a new stake in shares of Workday during the fourth quarter valued at approximately $369,000. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Workday by 387.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 355,655 shares of the software maker’s stock valued at $86,926,000 after purchasing an additional 282,632 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $252.50 on Thursday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The firm’s 50-day simple moving average is $256.84 and its 200 day simple moving average is $255.28. 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 stock has a market cap of $67.17 billion, a P/E ratio of 41.87, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Equities analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WDAY shares. Redburn Atlantic started coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. KeyCorp raised their price target on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada raised their price target on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 473,001 shares of company stock worth $120,614,400. 20.00% of the stock is owned by corporate insiders.

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.