Resona Asset Management Co. Ltd. Takes $16.89 Million Position in Workday, Inc. (NASDAQ:WDAY)

Resona Asset Management Co. Ltd. bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 65,167 shares of the software maker's stock, valued at approximately $16,892,000.

Several other large investors have also modified their holdings of the business. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter valued at $26,000. Roxbury Financial LLC purchased a new stake in shares of Workday in the fourth quarter valued at $25,000. Avion Wealth boosted its stake in shares of Workday by 452.6% during 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 acquired a new position in Workday in the 4th quarter valued at about $35,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after purchasing an additional 66 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley downgraded Workday from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price objective on shares of Workday from $310.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. UBS Group boosted their target price on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Workday in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Piper Sandler increased their target price on Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $300.18.

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Workday Stock Down 0.5 %

WDAY stock traded down $1.03 during trading hours on Friday, hitting $223.71. The company's stock had a trading volume of 688,456 shares, compared to its average volume of 2,595,072. The stock has a 50 day moving average price of $249.14 and a two-hundred day moving average price of $252.93. 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 $59.51 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 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 for the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the business's 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 transaction, the insider now owns 111,324 shares of the company's stock, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. This represents a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 377,699 shares of company stock worth $91,780,220 over the last ninety days. Company insiders own 20.00% of the company's stock.

Workday Company 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.