Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Workday, Inc. $WDAY

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 15.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 118,286 shares of the software maker’s stock after selling 21,410 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Workday were worth $25,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Vanguard Group Inc. grew its position in Workday by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares in the last quarter. State Street Corp grew its position in Workday by 0.8% in the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock valued at $2,328,959,000 after acquiring an additional 74,052 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after acquiring an additional 1,882,391 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Workday by 41.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock valued at $905,530,000 after acquiring an additional 1,103,421 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in Workday by 13.1% in the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after acquiring an additional 371,561 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of WDAY opened at $122.43 on Thursday. The stock has a 50 day moving average price of $130.37 and a 200 day moving average price of $181.15. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $31.46 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.14. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $276.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 earnings per share. Research analysts predict that Workday, Inc. will post 5.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 989,814 shares of company stock valued at $131,576,291 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WDAY shares. Mizuho dropped their target price on Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Guggenheim dropped their target price on Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Robert W. Baird set a $195.00 target price on Workday in a research report on Tuesday, February 24th. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a research report on Monday, February 9th. Finally, Morgan Stanley dropped their target price on Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Nineteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Workday Profile

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.