China Universal Asset Management Co. Ltd. Reduces Stock Holdings in Workday, Inc. $WDAY

China Universal Asset Management Co. Ltd. reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 36.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,254 shares of the software maker’s stock after selling 8,082 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Workday were worth $3,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of Workday by 78.4% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 10,322 shares of the software maker’s stock worth $2,410,000 after purchasing an additional 4,536 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Workday by 406.5% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 7,587 shares of the software maker’s stock valued at $1,772,000 after buying an additional 6,089 shares during the period. Horizon Investments LLC lifted its position in Workday by 370.1% in the first quarter. Horizon Investments LLC now owns 14,805 shares of the software maker’s stock valued at $3,457,000 after buying an additional 11,656 shares during the last quarter. Finally, Ethic Inc. boosted its stake in Workday by 9.4% during the first quarter. Ethic Inc. now owns 17,684 shares of the software maker’s stock worth $4,147,000 after buying an additional 1,521 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of WDAY opened at $224.49 on Friday. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $283.68. The stock has a market capitalization of $59.04 billion, a PE ratio of 94.32, a PEG ratio of 2.55 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a 50-day simple moving average of $229.02 and a 200-day simple moving average of $232.72.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 82,025 shares of Workday stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total transaction of $17,404,884.75. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,290,347.31. The trade was a 43.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 1,915 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $238.96, for a total value of $457,608.40. Following the completion of the transaction, the chief accounting officer directly owned 37,351 shares in the company, valued at $8,925,394.96. This trade represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 345,798 shares of company stock worth $78,617,754. 19.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

WDAY has been the topic of a number of research analyst reports. Loop Capital set a $280.00 price target on shares of Workday in a research note on Wednesday. Raymond James Financial initiated coverage on Workday in a research report on Friday, November 21st. They issued a “market perform” rating on the stock. Citizens Jmp restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Wednesday, November 26th. DA Davidson dropped their price objective on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research note on Wednesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Workday from $330.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.13.

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.