Workday, Inc. $WDAY Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

by · The Markets Daily

Sumitomo Mitsui Trust Group Inc. reduced its position in Workday, Inc. (NASDAQ:WDAY – Free Report) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 471,950 shares of the software maker’s stock after selling 29,120 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Workday were worth $89,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Mirae Asset Global Investments Co. Ltd. acquired a new position in Workday in the third quarter worth approximately $30,922,000. ProShare Advisors LLC raised its position in Workday by 1.2% during the third quarter. ProShare Advisors LLC now owns 231,372 shares of the software maker’s stock valued at $44,067,000 after acquiring an additional 2,692 shares in the last quarter. Vise Technologies Inc. raised its position in Workday by 40.5% during the third quarter. Vise Technologies Inc. now owns 12,165 shares of the software maker’s stock valued at $2,317,000 after acquiring an additional 3,505 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new position in Workday during the third quarter valued at approximately $210,000. Finally, Avestar Capital LLC lifted its stake in Workday by 69.7% in the third quarter. Avestar Capital LLC now owns 4,545 shares of the software maker’s stock valued at $866,000 after acquiring an additional 1,867 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Up 0.2%

Shares of WDAY stock opened at $198.13 on Tuesday. The stock’s 50 day simple moving average is $194.03 and its 200 day simple moving average is $156.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $241.04. The company has a market capitalization of $47.75 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 2.05 and a beta of 1.07.

Workday (NASDAQ:WDAY – Get Free Report) last posted its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 EPS. As a group, research analysts predict that Workday, Inc. will post 5.32 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on WDAY. Weiss Ratings raised shares of Workday from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (up from $182.00) on shares of Workday in a research note on Thursday, October 15th. Mizuho set a $210.00 price target on shares of Workday in a report on Wednesday, October 14th. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Finally, Robert W. Baird lifted their price objective on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $202.10.

Get Our Latest Stock Analysis on WDAY

Insider Buying and Selling

In other news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $185.64, for a total value of $18,708,799.20. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at $19,501,296.36. This trade represents a 48.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock worth $188,811,574 in the last 90 days. Company insiders own 18.64% of the company’s stock.

Workday Profile

(Free Report)

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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).