Mirae Asset Global Investments Co. Ltd. Has $26.07 Million Holdings in Workday, Inc. $WDAY

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 14.5% during the third quarter, Holdings Channel.com reports. The fund owned 108,279 shares of the software maker’s stock after acquiring an additional 13,699 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Workday were worth $26,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after acquiring an additional 515,529 shares during the last quarter. State Street Corp grew its position in Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after acquiring an additional 303,713 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after purchasing an additional 140,042 shares during the last quarter. Parnassus Investments LLC grew its holdings in Workday by 13.1% during the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock worth $774,478,000 after acquiring an additional 371,561 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Workday by 10.4% in the second quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock worth $524,913,000 after purchasing an additional 205,403 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 82,884 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the transaction, the insider owned 111,353 shares in the company, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 in the last quarter. Company insiders own 19.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WDAY shares. Citigroup decreased their price target on Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Citizens Jmp restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Wednesday, November 26th. BTIG Research initiated coverage on shares of Workday in a research note on Tuesday, December 16th. They issued a “buy” rating and a $285.00 price objective on the stock. Barclays decreased their price objective on shares of Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.09.

Workday Stock Down 7.6%

Workday stock opened at $174.66 on Friday. The company has a market capitalization of $45.94 billion, a PE ratio of 73.39, a PEG ratio of 2.13 and a beta of 1.14. Workday, Inc. has a 12-month low of $169.01 and a 12-month high of $283.68. The firm’s fifty day moving average is $209.36 and its 200 day moving average is $223.83. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its quarterly 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. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.