Workday, Inc. (NASDAQ:WDAY) Shares Sold by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,145 shares of the software maker’s stock after selling 157 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Workday were worth $1,502,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after acquiring an additional 324,540 shares during the period. Clearbridge Investments LLC raised its stake in Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after purchasing an additional 281,207 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after buying an additional 118,180 shares during the period. Finally, Meritage Group LP increased its holdings in shares of Workday by 27.5% during the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after buying an additional 275,883 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $271.49 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $71.94 billion, a PE ratio of 47.30, a P/E/G ratio of 5.49 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business’s fifty day moving average price is $246.33 and its two-hundred day moving average price is $236.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, research analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDAY. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. DA Davidson increased their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. The Goldman Sachs Group lifted their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Citigroup lowered their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average price target of $287.59.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’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 sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated Friday, October 11th. The shares were 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 $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,575 shares of company stock valued at $91,506,897. Insiders own 20.00% of the company’s stock.

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.