Workday, Inc. $WDAY Shares Sold by Korea Investment CORP

by · The Cerbat Gem

Korea Investment CORP reduced its position in Workday, Inc. (NASDAQ:WDAY – Free Report) by 5.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 178,032 shares of the software maker’s stock after selling 9,496 shares during the quarter. Korea Investment CORP’s holdings in Workday were worth $41,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Workday by 2.3% in the first quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker’s stock valued at $4,810,404,000 after acquiring an additional 455,855 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after acquiring an additional 1,406,088 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock valued at $911,027,000 after acquiring an additional 52,104 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday in the fourth quarter valued at approximately $658,735,000. Finally, Northern Trust Corp boosted its holdings in shares of Workday by 6.6% in the first quarter. Northern Trust Corp now owns 2,413,712 shares of the software maker’s stock valued at $563,674,000 after acquiring an additional 149,731 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 2.5%

Shares of WDAY stock opened at $231.85 on Tuesday. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The stock has a market cap of $61.90 billion, a P/E ratio of 128.09, a P/E/G ratio of 3.42 and a beta of 1.24. The business has a fifty day simple moving average of $234.25 and a 200-day simple moving average of $243.40. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY – Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.74 earnings per share. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on WDAY shares. Piper Sandler restated an “underweight” rating and set a $235.00 price target (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Westpark Capital upped their price target on Workday from $315.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Cantor Fitzgerald set a $265.00 price target on Workday in a research note on Thursday, August 14th. Oppenheimer cut their price target on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $340.00 price target on shares of Workday in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $293.08.

Get Our Latest Stock Analysis on WDAY

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the sale, the chief executive officer owned 1,472 shares of the company’s stock, valued at $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider directly owned 102,997 shares in the company, valued at approximately $24,679,111.17. The trade was a 41.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is owned by company insiders.

About Workday

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY – Free Report).