Nomura Asset Management Co. Ltd. Purchases 14,861 Shares of Workday, Inc. (NASDAQ:WDAY)

Nomura Asset Management Co. Ltd. increased its position in Workday, Inc. (NASDAQ:WDAY) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 78,156 shares of the software maker’s stock after acquiring an additional 14,861 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Workday were worth $19,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after acquiring an additional 47 shares during the period. ORG Partners LLC boosted its stake in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after purchasing an additional 3,123 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Workday by 12.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,348 shares of the software maker’s stock valued at $3,878,000 after buying an additional 1,855 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of Workday by 5.9% during the second quarter. 180 Wealth Advisors LLC now owns 1,319 shares of the software maker’s stock valued at $299,000 after buying an additional 73 shares during the period. Finally, Cigna Investments Inc. New lifted its holdings in shares of Workday by 3.5% in the second quarter. Cigna Investments Inc. New now owns 2,201 shares of the software maker’s stock worth $492,000 after buying an additional 75 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the topic of several recent analyst reports. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group boosted their price objective on 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, eight have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $289.21.

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now directly 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. Insiders sold 361,463 shares of company stock worth $88,422,088 over the last three months. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 3.2 %

WDAY opened at $270.88 on Wednesday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a 50 day simple moving average of $251.13 and a two-hundred day simple moving average of $237.53. The firm has a market capitalization of $71.78 billion, a price-to-earnings ratio of 44.92, a PEG ratio of 4.91 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings results 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 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 2.58 EPS for the current 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.