Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 535,222 shares of the software maker's stock after acquiring an additional 8,317 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Workday worth $130,814,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WDAY. Crewe Advisors LLC acquired a new stake in shares of Workday during the 1st quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Workday in the third quarter valued at $26,000. SouthState Corp raised its position in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker's stock valued at $34,000 after purchasing an additional 129 shares during the period. Pacific Center for Financial Services lifted its stake in shares of Workday by 57.0% in the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker's stock valued at $43,000 after purchasing an additional 57 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Workday during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded down $3.54 during trading on Thursday, reaching $272.97. The company's stock had a trading volume of 769,752 shares, compared to its average volume of 2,099,808. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market cap of $72.34 billion, a price-to-earnings ratio of 47.58, a P/E/G ratio of 5.37 and a beta of 1.35. The business's fifty day moving average price is $246.33 and its 200-day moving average price is $236.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

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

Insider Transactions at Workday

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

Analysts Set New Price Targets

Several brokerages have weighed in on WDAY. Piper Sandler reaffirmed an "overweight" rating and set a $285.00 target price on shares of Workday in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Friday, August 23rd. KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the company a "hold" rating in a research note on Friday, August 23rd. Finally, Morgan Stanley lowered their target price on Workday from $325.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, August 23rd. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $287.59.

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.