Mitsubishi UFJ Asset Management Co. Ltd. Buys 191,150 Shares of Workday, Inc. (NASDAQ:WDAY)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 120.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 350,101 shares of the software maker’s stock after purchasing an additional 191,150 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Workday were worth $88,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mendel Money Management increased its position in Workday by 9.7% during the fourth quarter. Mendel Money Management now owns 12,838 shares of the software maker’s stock valued at $3,313,000 after acquiring an additional 1,135 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Workday during the 4th quarter valued at about $933,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Workday by 1.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,729 shares of the software maker’s stock valued at $59,535,000 after purchasing an additional 4,104 shares during the last quarter. Keystone Investors PTE Ltd. bought a new stake in Workday in the fourth quarter worth about $1,589,000. Finally, Zions Bancorporation N.A. boosted its position in shares of Workday by 33.0% during the fourth quarter. Zions Bancorporation N.A. now owns 19,917 shares of the software maker’s stock valued at $5,139,000 after buying an additional 4,937 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WDAY. KeyCorp increased their price target on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Oppenheimer upped their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Trading Down 2.5 %

NASDAQ WDAY opened at $244.55 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $65.05 billion, a PE ratio of 40.56, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a fifty day moving average of $256.89 and a 200 day moving average of $254.93.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 487,145 shares of company stock valued at $123,289,438 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

Workday 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.