Resona Asset Management Co. Ltd. Takes $16.89 Million Position in Workday, Inc. (NASDAQ:WDAY)

Resona Asset Management Co. Ltd. bought a new position in Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 65,167 shares of the software maker’s stock, valued at approximately $16,892,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WDAY. Roxbury Financial LLC bought a new position in shares of Workday in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new stake in Workday during the 4th quarter worth approximately $26,000. Avion Wealth lifted its holdings in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC bought a new position in shares of Workday in the fourth quarter worth approximately $35,000. Finally, Rakuten Securities Inc. increased its stake in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 70,144 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,776,029.22. This represents a 40.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares of the company’s stock, valued at $2,544,814.67. The trade was a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 432,441 shares of company stock worth $108,901,692. Insiders own 20.00% of the company’s stock.

Workday Stock Down 4.9 %

Shares of NASDAQ:WDAY opened at $217.14 on Friday. The firm has a market capitalization of $57.76 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business has a 50 day simple moving average of $254.30 and a two-hundred day simple moving average of $254.09. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WDAY shares. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Piper Sandler lifted their target price on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price objective on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.18.

About Workday

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.