AIA Group Ltd Decreases Position in Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 46.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,781 shares of the software maker’s stock after selling 16,944 shares during the quarter. AIA Group Ltd’s holdings in Workday were worth $5,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WDAY. Vontobel Holding Ltd. increased its position in shares of Workday by 5.1% in the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after acquiring an additional 3,260 shares during the period. Assetmark Inc. increased its position in shares of Workday by 9.9% in the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after acquiring an additional 1,933 shares during the period. Bornite Capital Management LP purchased a new position in shares of Workday in the fourth quarter valued at about $34,508,000. Bain Capital Public Equity LP increased its position in shares of Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock valued at $6,203,000 after acquiring an additional 5,513 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after buying an additional 13,502 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Workday stock traded up $3.21 during midday trading on Friday, reaching $230.02. 1,686,305 shares of the company traded hands, compared to its average volume of 2,195,146. The firm has a market capitalization of $60.96 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 5.62 and a beta of 1.35. The business has a 50 day moving average of $227.39 and a two-hundred day moving average of $260.12. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, research analysts predict that Workday, Inc. will post 2.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. Bank of America reduced their price target on shares of Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Morgan Stanley reduced their price target on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Sanford C. Bernstein reduced their price target on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Canaccord Genuity Group reduced their price target on shares of Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, DA Davidson reduced their price target on shares of Workday from $300.00 to $255.00 and set a “neutral” 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 issued a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.44.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’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 transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the company’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 transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the company’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 sale, the insider now directly owns 786,000 shares of the company’s stock, valued at $164,407,620. The disclosure for this sale can be found here. Insiders have sold a total of 468,672 shares of company stock worth $103,096,914 over the last quarter. Company insiders own 20.00% of the company’s stock.

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.