AIA Group Ltd Lowers Position in Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,462 shares of the software maker’s stock after selling 803 shares during the quarter. AIA Group Ltd’s holdings in Workday were worth $6,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC bought a new stake in Workday during the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in Workday in the fourth quarter valued at $26,000. Avion Wealth increased its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new stake in Workday during the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC lifted its stake in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WDAY shares. Daiwa America upgraded Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. BMO Capital Markets upped their price objective on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on shares of Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Scotiabank reduced their price target on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Trading Down 2.5 %

Workday stock opened at $238.49 on Monday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a market capitalization of $63.44 billion, a price-to-earnings ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business’s fifty day simple moving average is $256.67 and its two-hundred day simple moving average is $254.82. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 431,145 shares of company stock valued at $108,631,438 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

About Workday

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.