Sumitomo Mitsui Trust Group Inc. Lowers Holdings in Workday, Inc. $WDAY

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.1% in the 1st quarter, HoldingsChannel reports. The firm owned 510,838 shares of the software maker’s stock after selling 33,115 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Workday were worth $66,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. Auto Owners Insurance Co boosted its position in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after acquiring an additional 10,190,516 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 during the last quarter. Janus Henderson Group PLC increased its holdings in Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the last quarter. Norges Bank purchased a new stake in Workday in the 4th quarter worth $448,804,000. Finally, First Eagle Investment Management LLC lifted its stake in Workday by 87.8% in the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock worth $931,882,000 after purchasing an additional 2,028,085 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY traded up $0.61 during mid-day trading on Friday, hitting $138.95. 1,907,705 shares of the company’s stock traded hands, compared to its average volume of 4,840,891. The company’s 50-day moving average is $129.78 and its two-hundred day moving average is $147.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $34.32 billion, a P/E ratio of 43.42, a PEG ratio of 1.49 and a beta of 1.11. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 EPS. On average, equities analysts anticipate that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 766,602 shares of company stock valued at $99,108,423. 18.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WDAY. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. The Goldman Sachs Group decreased their target price on Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Thursday, June 11th. Finally, Jefferies Financial Group lifted their price objective on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $184.00.

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.