Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Workday, Inc. (NASDAQ:WDAY) by 120.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 350,101 shares of the software maker’s stock after buying an additional 191,150 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Workday worth $88,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its holdings in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC grew its position in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp grew its position in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its stake in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Finally, Parnassus Investments LLC raised its holdings in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Down 2.5 %

Shares of WDAY opened at $244.55 on Friday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $65.05 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business’s 50 day moving average is $256.89 and its 200 day moving average is $254.93.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WDAY shares. Royal Bank of Canada increased their price target on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Loop Capital upped their price target on Workday from $242.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Ten research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $300.36.

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.