OVERSEA CHINESE BANKING Corp Ltd Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Workday, Inc. (NASDAQ:WDAY) by 37.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,392 shares of the software maker’s stock after acquiring an additional 932 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Workday were worth $832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Workday by 4.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after purchasing an additional 43 shares in the last quarter. Diversified Trust Co lifted its position in Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after buying an additional 47 shares during the last quarter. Opal Wealth Advisors LLC boosted its stake in Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after acquiring an additional 48 shares during the last quarter. Finally, Aspen Investment Management Inc raised its stake in shares of Workday by 3.1% during the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock worth $369,000 after acquiring an additional 50 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares in the company, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares of the company’s stock, valued at $25,381,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on WDAY. The Goldman Sachs Group increased 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. Bank of America lifted their price objective on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. KeyCorp raised their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Loop Capital increased their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Up 2.3 %

Shares of Workday stock opened at $276.51 on Thursday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. 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 company has a 50-day moving average of $245.97 and a 200 day moving average of $235.99. The firm has a market cap of $73.28 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 5.37 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

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.