Sumitomo Mitsui Trust Group Inc. Acquires 8,317 Shares of Workday, Inc. (NASDAQ:WDAY)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 535,222 shares of the software maker’s stock after purchasing an additional 8,317 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Workday worth $130,814,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Workday during the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC bought a new position in shares of Workday during the first quarter valued at $27,000. SouthState Corp raised its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Workday in the 2nd quarter worth about $35,000. Finally, Asset Dedication LLC purchased a new stake in Workday during the 2nd quarter valued at about $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 370,575 shares of company stock valued at $91,506,897. Insiders own 20.00% of the company’s stock.

Workday Trading Up 2.3 %

Shares of Workday stock opened at $276.51 on Thursday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $73.28 billion, a P/E ratio of 48.17, a P/E/G ratio of 5.37 and a beta of 1.35. The company has a fifty day moving average of $245.97 and a 200 day moving average of $235.99.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WDAY shares. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. Stifel Nicolaus upped their price objective on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. The Goldman Sachs Group lifted their target price on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Bank of America boosted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $287.04.

Workday Company 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.