AIA Group Ltd Raises Stake in Workday, Inc. (NASDAQ:WDAY)

AIA Group Ltd increased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,265 shares of the software maker's stock after purchasing an additional 2,732 shares during the quarter. AIA Group Ltd's holdings in Workday were worth $5,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC increased its stake in Workday by 4.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker's stock valued at $281,000 after buying an additional 43 shares during the last quarter. Diversified Trust Co grew its holdings in Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker's stock valued at $1,080,000 after buying an additional 47 shares in the last quarter. Opal Wealth Advisors LLC boosted its holdings in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock valued at $231,000 after purchasing an additional 47 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in Workday by 3.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock valued at $324,000 after acquiring an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc increased its holdings in Workday by 3.1% in the 2nd quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker's stock valued at $369,000 after buying an additional 50 shares during the period. Institutional investors own 89.81% of the company's stock.

Workday Trading Down 0.6 %

WDAY stock traded down $1.44 during trading on Friday, hitting $256.54. The company had a trading volume of 1,713,579 shares, compared to its average volume of 2,100,361. The business has a 50-day moving average of $245.97 and a 200-day moving average of $235.90. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $67.98 billion, a PE ratio of 44.95, a PEG ratio of 5.00 and a beta of 1.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $0.40 earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Friday, September 13th. BMO Capital Markets restated an "outperform" rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Evercore ISI cut their price target on shares of Workday from $300.00 to $290.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. Needham & Company LLC reduced their price objective on Workday from $350.00 to $300.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group raised their target price on Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $287.04.

Insider Activity

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now directly owns 97,500 shares of the company's stock, valued at approximately $25,381,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares of the company's stock, valued at approximately $25,381,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by 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.