Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,896 shares of the software maker’s stock after acquiring an additional 10,560 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Workday were worth $21,964,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Workday by 47.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,021 shares of the software maker’s stock valued at $250,000 after acquiring an additional 327 shares during the last quarter. Diversified Trust Co lifted its position in Workday by 35.5% during the third quarter. Diversified Trust Co now owns 6,546 shares of the software maker’s stock valued at $1,600,000 after purchasing an additional 1,716 shares during the period. CWM LLC boosted its holdings in Workday by 24.8% in the third quarter. CWM LLC now owns 7,800 shares of the software maker’s stock worth $1,907,000 after purchasing an additional 1,549 shares during the last quarter. Marcum Wealth LLC bought a new stake in Workday in the 3rd quarter worth approximately $226,000. Finally, Wedmont Private Capital raised its stake in Workday by 5.4% during the 3rd quarter. Wedmont Private Capital now owns 1,171 shares of the software maker’s stock valued at $276,000 after buying an additional 60 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY stock opened at $276.17 on Thursday. 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, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market cap of $73.46 billion, a PE ratio of 45.80, a P/E/G ratio of 4.73 and a beta of 1.35. The company has a 50-day moving average price of $260.70 and a 200 day moving average price of $249.53.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 over the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WDAY shares. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average price target of $292.25.

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.