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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 120.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 350,101 shares of the software maker's stock after acquiring an additional 191,150 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Workday worth $88,520,000 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 company. Mendel Money Management boosted its stake in shares of Workday by 9.7% in the 4th quarter. Mendel Money Management now owns 12,838 shares of the software maker's stock valued at $3,313,000 after purchasing an additional 1,135 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Workday in the fourth quarter valued at approximately $933,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Workday by 1.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,729 shares of the software maker's stock valued at $59,535,000 after acquiring an additional 4,104 shares during the last quarter. Keystone Investors PTE Ltd. acquired a new stake in Workday during the 4th quarter worth $1,589,000. Finally, Zions Bancorporation N.A. raised its position in shares of Workday by 33.0% during the 4th quarter. Zions Bancorporation N.A. now owns 19,917 shares of the software maker's stock valued at $5,139,000 after acquiring an additional 4,937 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction on Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company's stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 431,145 shares of company stock valued at $108,631,438 over the last three months. Insiders own 20.00% of the company's stock.

Workday Stock Down 2.4 %

WDAY stock traded down $5.63 during midday trading on Monday, hitting $232.86. The company's stock had a trading volume of 1,955,420 shares, compared to its average volume of 2,520,052. The company's fifty day moving average price is $256.67 and its 200 day moving average price is $254.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a market capitalization of $61.94 billion, a P/E ratio of 38.65, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. BMO Capital Markets raised their price target on Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. UBS Group upped their price target on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Workday from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $300.18.

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.