Workday, Inc. (NASDAQ:WDAY) Position Reduced by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 20.8% during the third quarter, HoldingsChannel reports. The fund owned 14,041 shares of the software maker’s stock after selling 3,681 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Workday were worth $3,432,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the period. Legal & General Group Plc raised its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Workday by 15.2% during the second quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after purchasing an additional 153,577 shares during the period. Van ECK Associates Corp raised its holdings in shares of Workday by 0.4% during the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after purchasing an additional 4,127 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Workday by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 835,203 shares of the software maker’s stock worth $204,132,000 after purchasing an additional 24,195 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares of the company’s stock, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Citigroup dropped their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $289.46.

Workday Stock Performance

NASDAQ:WDAY opened at $270.19 on Wednesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $248.52 and a 200-day moving average of $237.21. The firm has a market cap of $71.60 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal 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.